The overhaul of IFRS lease accounting

Catalyst for change in corporate real estate

This PwC report contains a detailed summary of the key provisions of the Exposure Draft stage of an ambitious IASB and FASB joint proposal that would radically transform lease accounting from the existing model which has existed for over 30 years. These changes would impact almost every company but are especially relevant to those that are significant users of real estate. The proposal suggests a completely new model for lessee accounting under which lessee's rights and obligations under all leases, existing and new, would be capitalised on the balance sheet.