Take a ‘closer look’ at new Leases standard, accountants urged

Corporate entities will have to take a closer look at the new AASB 16 Leases accounting standard due to its wide-reaching impact, warns a mid-tier firm.

The new accounting standard AASB 16 Leases comes into effect 1 January 2019 and is one of the “triple threat” of major accounting standards being rolled out, including AASB 19 Financial Instruments and AASB 15 Revenue from Contracts with Customers.

Read more at the Accountants Daily.

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