IFRS 16: Leases


Leasing is an important financial solution used by many organisations. It enables companies to use property, plant, and equipment without needing to incur large initial cash outflows. Under existing rules, lessees generally account for lease transactions either as off-balance sheet operating or as on balance sheet finance leases. The new standard requires lessees to recognise nearly all leases on the balance sheet which will reflect their right to use an asset for a period of time and the associated liability to pay rentals. The lessor’s accounting model largely remains unchanged.

Hear directly from our IFRS 16 experts in our latest video series

Find out how companies can prepare for the implementation of IFRS 16 Leases

This video explores how companies are progressing in implementing the IFRS 16 Leases standard and answers questions on how to apply some of the requirements of the standard.


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PwC's Derek Carmichael, Jay Tahtah and Jessica Taurae discuss hot topics for the new standard's implementation, including discount rates, lease terms and transition.

IFRS 16 publications

Accounting for typical transactions in the football industry

Accounting for typical transactions in the football industry

This edition considers the IFRSs and interpretations applicable as at September 2018. It includes solutions for IFRS 15, ‘Revenue’, and IFRS 9, ‘Financial Instruments’, as well as IFRS 16, ‘Leases’, the latter being issued but only effective for annual periods beginning on or after 1 January 2019. Each solution addresses a specified set of circumstances. 

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PwC Leasing Shortcuts

Definition of a Lease according to IFRS 16


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This short animation provides a quick overview of the new definition of a lease, and explains how even coffee-makers might be captured! A practical illustration to show that the new standard might impact more companies and contracts than you think, and essential viewing for all.

IFRS Standardsbearer


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New accounting standards have been finalised by the International Accounting Standards Board for Financial Instruments (IFRS 9), Revenue (IFRS 15) and Leases (IFRS 16). They come into effect in 2018/19. Our IFRS Standardsbearer report highlights where the new standards may affect your existing IFRS financial statements and gives your implementation projects a fast start.

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Contact us

Jessica Taurae

Partner, IFRS specialist, PwC United Kingdom

Tel: +44 207 2125700

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