Our rental changes (PDF 1.2 MB) contain practical guides and examples of how to take into account the most common forms of leasing change. And all businesses need to prepare for lease changes after the transition – an important aspect of the new world of leasing accounting. Many companies will now face historic lease changes as part of their transition project. Leasing changes are very common. For example, a taker with a struggling business may try to negotiate lower rents or terminate certain pre-term leases. Or a lessor wants to terminate a pre-term lease in order to rediscover or re-inject the underlying asset. Check out our ongoing IFRS – Leasing- for more information on ifrs leasing accounting. IFRS 16, a new leasing standard, provides detailed guidelines for accounting for lease changes for both underwriters and lenders. This is good news, which brings clarity and coherence in an area where there have been few directions – and a lot of diversity – in the past. .
We can create a package tailored to your individual needs. © 2020 KPMG IFRG Limited, a UK company, is limited by the guarantee. All rights reserved. Browse articles, set up your interests or learn more. These illustrative examples accompany IFRS 16 leases (published in January 2016; see separate brochure) and are published by the International Accounting Standards Board (IASB). To subscribe to this content, simply call 0800 231 5199 Annual Improvements to IFRS 2018-2020 (May 2020) to reflect changes to this Standard effective for reporting periods beginning January 1, 2022. Whatever the reason for the change, the resulting accounting can be complicated. You can also follow KPMG IFRS on LinkedIn, listen to our podcasts and read our IFRS blog for the latest content and current DISCUSSIONs on IFRS. ..