IASB Staff Webcast: Definition of a lease
13 April 2016
The IASB staff have recorded a web presentation discussing the requirements in IFRS 16Leases relating to the definition of a lease. This is the third in a series of webcasts the International Accounting Standards Board is providing to support the implementation of IFRS 16.
In the webcast, the IASB staff talk through:
- the IFRS 16 requirements and application guidance relating to the definition of a lease—including real-life application examples of each main element;
- practical differences between IFRS 16 and the previous definition of a lease requirements in IAS 17 Leases and IFRIC 4 Determining whether an Arrangement contains a Lease; and
- how entities should account for contracts with both lease and service components.
This and previous webcasts can be accessed here.