IFRS 16 in a nutshell
Nowadays, companies are not required to classify their lease invoices as debt on their balance sheet. This means that this debt is not reported in their annual financial statement. But is this really a problem? It may very well be, since investors are unable to obtain a proper overview of the company’s financial health as a result.
IFRS 16 was launched in January 2016 and applies to all listed companies in the European Union and all companies that choose to prepare their financial statement in line with IFRS standards.
Important: IFRS 16 will apply to all new lease contracts from 2019 and all existing lease contracts with a duration of at least 12 months that start or end after 1 January 2019.
Is your company subject to the IFRS 16 standards?
If so, register your company using this form and Athlon will keep you informed about the latest developments in coming months. What you should also know is that we provide this service as a standard offering.