IFRS 16: Transforming Lease Accounting in the Construction Industry
CCR Magazine
OCTOBER 22, 2024
Implemented on January 1, 2019, IFRS 16 replaces the previous IAS 17 standard, bringing almost all leases onto the balance sheet and altering the way construction companies recognize, measure, and disclose leasing arrangements. Return on Assets (ROA) : Potential decrease as total assets increase with the recognition of right-of-use assets.
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