Key areas to consider for lessees applying NZ IFRS 16 Leases in years after first-time adoption
NZ IFRS 16 Leases introduced a fundamental change to lease accounting, bringing nearly all leases onto the balance sheet for Tier 1 and 2 for-profit lessees. In years subsequent to adoption there are many factors you need to consider at each reporting cycle. This guide highlights the ongoing requirements of NZ IFRS 16 Leases, some of the interplay with other Standards, and is intended to help you identify areas where you may need to undertake further analysis.
NZ IFRS 16
– This version is effective for reporting periods beginning on or after
1 Jan 2021
(early application permitted)