Detailed IFRS 16 - Leases Summary

This concise summary covers the key points of IFRS 16, focusing on lease accounting for both lessees and lessors. It explains: Lessees: Recognition of lease liabilities, right-of-use (ROU) assets, depreciation, interest expenses, and tax considerations. Includes simplified approaches for short-term leases and low-value assets. Lessors: Distinction between operating and finance leases, and how to account for future lease receivables. Tax Treatment: Overview of tax implications, including deductions for lessees and lessors in line with SARS guidelines. Ideal for accounting students or professionals looking to understand IFRS 16’s practical and theoretical aspects. Format: PDF Pages: 5 A3-Pages Level: Undergraduate & Postgraduate Accounting Studies