IASB Staff Webcast: Exemptions

03 May 2016

The IASB staff have recorded a web presentation discussing the recognition exemptions for lessees in IFRS 16 Leases with Board Member Sue Lloyd.

Those exemptions relate to short-term leases and leases of low-value assets. This is the fourth in a series of webcasts that the International Accounting Standards Board (the Board) is providing to support the implementation of IFRS 16.

In the webcast, the IASB staff discuss the IFRS 16 requirements relating to the recognition exemptions and obtain insights from Sue Lloyd, including her views on:

the Board's rationale for providing the exemptions and determining their scope;
the kinds of leases the Board had in mind when discussing the exemptions, including practical examples of leases that are, or are not, captured by the exemptions; and
implementation questions that have been raised by lessees to date.

The webcast can be accessed via the Leases implementation page.