1. Explain whether standard for leases reflect economic reality. 2. How the current standard treat off balance sheet leases and liabilities? 3. Airline companies lease most of their aircraft and high impact on their balance sheet. How the lease accounting standard is dealing with Airline industry? 4. Do you think the lease standard will be welcome be all the industry sector? Explain why and why not. 5. How the lease standard will help the investors to make better informed decision?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You are required to read IFRS 16 – Leases and answer following questions. IFRS16 standard is available on the website (https://www.ifrs.org/issued-standards/list-of-standards/ifrs-16-leases/)

REQUIRED

1. Explain whether standard for leases reflect economic reality.

2. How the current standard treat off balance sheet leases and liabilities?

3. Airline companies lease most of their aircraft and high impact on their balance sheet. How the lease accounting standard is dealing with Airline industry?

4. Do you think the lease standard will be welcome be all the industry sector? Explain why and why not.

5. How the lease standard will help the investors to make better informed decision?

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