Knowledge about IFRS 16?

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IFRS 16 is a new accounting standard for lease accounting.

IFRS 16 requires lessees to recognize all leases on their balance sheet as assets and liabilities.
It replaces the previous standard IAS 17.
It aims to provide a more accurate representation of a company's financial position.
It affects companies that lease assets such as property, vehicles, and equipment.
It also impacts financial ratios such as debt-to-equity and EBITDA.
It requires companies to distinguish between lease and non-lease components of a contract.
It also introduces new disclosure requirements.
Examples of companies impacted by IFRS 16 include airlines, retailers, and manufacturing companies.

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