CHANGES IN THE NATIONAL LEASE ACCOUNTING SYSTEM IN CONNECTION WITH THE TRANSITION TO INTERNATIONAL STANDARDS
Keywords:
Lease, leased asset, lease agreement, lessor, lessee, present value, financial reporting, operating lease, finance lease.Abstract
This article addresses the challenges of accounting for leases and lease payments under the widely accepted IFRS 16 "Leases." Controversial situations are examined and proposals for their resolution are provided. The author describes the specifics of applying the new international standard and its differences from the previous standard. The article also describes the changes made to the relevant national accounting standards.
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