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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.
IFRS 16, ‘Leases’ defines how the customer (lessee) and supplier (lessor) account for leases. The lessee will recognise a financial liability and right-of-use asset for most leases. Judgemental areas include identifying which contracts are in scope of IFRS 16, the lease term and the discount rate.
Partner, IFRS specialist, PwC United Kingdom
Tel: +44 207 2125700