31 December 2020
Introduction and scope (paras 15.1 - 15.44)
The objective of IFRS 16 is to set out the principles for the recognition, measurement, presentation and disclosure of leases.
IFRS MoA - Chapter 15 »
UK IFRS Manual 15. Leases
IFRS 16, ‘Leases’ defines how a customer (lessee) and supplier (lessor) should account for a lease. A lease exists in IFRS 16 when a lessee has the right to use an asset for a period of time in exchange for consideration.