You are here

New accounting rule to affect firms with huge lease liabilities

It requires leases of more than a year to be placed on balance sheet from January 2019

BT_20160114_CHACCOUNTING140TXS_2065732.jpg
The new rule has a large impact on lessees, says Deloitte's Mr Barmaky (above). PwC's Mr Chen expects affected firms to incur significant cost and effort to comply with and implement the requirements.

BT_20160114_CHACCOUNTING140TXS_2065732.jpg
The new rule has a large impact on lessees, says Deloitte's Mr Barmaky. PwC's Mr Chen expects affected firms to incur significant cost and effort to comply with and implement the requirements.

Singapore

COMPANIES here and around the world with significant operating leases such as those in transport and logistics, property and the retail sectors, are expected to face significant difficulties as they try to comply with a new accounting rule for leases.

IFRS 16 Leases - the

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom