FR/AFR-LEASES - IFRS 16 LESSON 1 (CALL 254722658875 FOR ONLINE CLASSES OR PRERECORDED VIDEOS)

IFRS 16 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases. A lessee is required to recognise a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments.