Introduced by Sofema Aviation Services (SAS) www.sassofia.com Introduction – What is IFRS 16? IFRS 16 brings in a requirement which provides a single lessee accounting model. Requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee…

Legal Aspects Review by Sofema Aviation Services www.sassofia.com How will IFRS 16 Leases Affect Aviation Companies? Leases previously treated as operating leases will generally now be an on-balance sheet. A lessee will recognise a right-of-use asset and a lease liability, and consequently depreciation and interest expense in profit or loss. The new Standard, in addition…