IFRS 15 and 16
Starting from January 1st 2019, the new IFRS 15 and 16 (hereinafter referred to as "IFRS 15" and "IFRS 16") will be applicable to all companies that are normally required to be audited according to International Financial Reporting Standards.
What are the effects?
What are the effects?
IFRS 15
In effect from January 1st, 2018, the first obligation to report in 2019.
The new standard as an effect has a change in the amount and dynamics of revenue recognition, and requires an extensive publication for all taxpayers.
IFRS 16
In effect from January 1st 2019.
This standard requires companies to show most leases in the balance sheet. All companies that rent property of significant value as an effect will show a significant increase in the assets and liabilities shown. Before that, it is necessary to collect details on their lease agreements and to consider new estimates and to prepare the calculations and the model of posting, which is a challenge for many societies.
More in the brochure you can access BELOW.
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