Intermediate Financial Reporting

The objective of the Individual Essay is to assess your ability to discuss the impact of AASB 16 Leases on financial statements and behaviour in the leasing market through a written persuasive individual essay response.

“The post-implementation review of IFRS 16 Leases (AASB 16) by the International Accounting Standards Board is likely to reveal that the introduction of the new standard has not only had an impact on financial statements but has also given rise to significant changes in behaviour in the leasing market.”


Discuss this statement. Your persuasive essay response should include:

  • an appropriate introductory paragraph;
  • an explanation of the accounting treatment of leases under AASB 16 compared to theirprevious treatment under AASB 117 Leases;
  • an explanation of the impact of AASB 16 on financial statements using the financialstatements of a lessee company that has implemented AASB 16;
  • an explanation of how and why AASB 16 could change behaviour in the leasing market;
  • an explanation of why AASB 16 may not change behaviour in the leasing market; and
  • a conclusion including your opinion on the statement with supporting reason(s).

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