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IFRS 16 Leases - IFRS Interpretations Committee agenda decisions – part 1
In this episode, we discuss some of the recent agenda decisions reached by the IFRS Interpretations Committee in 2019 about the application of IFRS 16 Leases.
The IFRS Interpretations Committee is the interpretative body of the International Accounting Standards Board ( the IASB or the Board). It works with the Board in supporting the application of IFRS standards. Among others, it responds to questions about the application of the standards.
At recent meetings in 2019, the IFRS Interpretations Committee issued a number of agenda decisions on various accounting issues, including: the application of IFRS 16 Leases in connection with liabilities in relation to a joint operator’s interest in a joint operation under IFRS 11 Joint Arrangements; the customer’s right to receive access to the supplier’s software hosted on the cloud; and subsurface rights under a contract that is or contains a lease.