IFRS 16 Leases

This article is aimed at the analysis of the newly created standard IFRS 16 Leases. This standard has radically changed the accounting and reporting of leases by the lessee. The standard has abandoned the classification of operating and financial lease and categorically requires that the lessee report all liabilities and assets resulting from leasing contracts. It deals with the benefits as well as with the risks which the standard brings from the point of view of the declarative value of financial statements in comparison with the previous standard IAS 17 Leases.