Critically analyse how and why IFRS16 Leases requires lessees to account for leasecontractsand whether or not it has enhanced the usefulness of financial statements.

Assignment Background :IFRS 16 specifies how to recognise, measure, present and disclose leases. The standard provides a single lessee accounting model, requiring lessees to recognise assets and liabilities for all leases unless the lease term is 12 months or less,or the underlying asset has a low value. IFRS 16 was issued in January 2016 and […]

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