Sue Lloyd, a member of the International Accounting Standards Board®
(the Board), discusses the changes to lessee accounting introduced
by IFRS 16 Leases in the attached document.
To make it a bit easier for students to assimilate, I have highlighted the key pieces of information.
I think the change can be summed up by the first sentence of the document:
“Sir David Tweedie, the Board’s previous chairman, is famously known for saying that one day he would like to fly on an airplane that actually appears on the airline’s balance sheet.”