[PDF] IFRS 16 – 2021 Issued IFRS Standards (Part A)

When did IAS 17 leases become a standard?

In April 2001 the International Accounting Standards Board (Board) adopted IAS 17 Leases,which had originally been issued by the International Accounting Standards Committee(IASC) in December 1997. IAS 17 Leases replaced IAS 17 Accounting for Leases that was issuedin September 1982.

What is the difference between IAS 8 and IFRS 17?

IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides abasis for selecting and applying accounting policies in the absence of explicit guidance. IFRS 17 Insurance Contracts establishes principles for the recognition,measurement, presentation and disclosure of insurance contracts within thescope of the Standard.

What is the difference between IAS 17 and sic 15?

IAS 17 Leases replaced IAS 17 Accounting for Leases that was issuedin September 1982. In April 2001 the Board adopted SIC-15 Operating Leases—Incentives, which had originallybeen issued by the Standing Interpretations Committee of the IASC in December 1998.

What are the disclosure requirements of IAS 16?

95 For items of property, plant and equipment subject to an operating lease, alessor shall apply the disclosure requirements of IAS 16. In applying thedisclosure requirements in IAS 16, a lessor shall disaggregate each class ofproperty, plant and equipment into assets subject to operating leases andassets not subject to operating leases.