The IASB staff have recorded a web presentation discussing the requirements in IFRS 16 Leases relating to the definition of a lease.

This is the third in a series of webcasts that the International Accounting Standards Board is providing to support the implementation of IFRS 16.

In the webcast, the IASB staff talk through:

• the IFRS 16 requirements and application guidance relating to the definition of a lease—including real life examples of application of each of the main elements;

• practical differences between IFRS 16 and the previous definition of a lease requirements in IAS 17 Leases and IFRIC 4 Determining whether an Arrangement contains a Lease; and

• how entities should account for contracts that contain both lease and service components.

For more information and supporting materials on IFRS 16 please go to: http://www.ifrs.org/supportingimplem...