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From your chosen stakeholder perspective (a company in your chosen GICS sector), report addressing the following questions;
1. Why has the leasing standard been changed? What will change? What does it mean for your chosen stakeholder? And how AASB 16 would benefit and/or disadvantage the stakeholder?
2. What effect does AASB 16 have on your chosen stakeholder's income statement, balance sheet and cash flow statement? What does it mean for users of your chosen stakeholder's financial statements?
(Note: discuss relevant ratios where applicable. Use most recent published financial statement of a company in your chosen GICS sector. Attach as Appendix 1 the financial statements used. Use ratios in the body of your discussion and attach your ratio calculation in appendix 2.)
3. Evaluate whether overall, AASB 16 would result in reporting that would be more useful to users?
4. Summarise your discussion for your Chief Executive Officer (CEO) who is from a non-accounting background.
Attachment:- Assignment.rar
Verified Expert
Shift To the AASB 16 Leasing System Leasing is a very critical activity for all the entities in a given country. By entering into a leasing activity, a firm can make use of the available assets without necessarily having to bear the risks that are associated with asset ownership. That is the key benefit of leasing. According to IFRS 16, a lease is a section of a contract, or an entire contract, that gives someone the right to make use of a particular asset for a predefined period of time with the contemplation of a switch over. While this definition might appear to be simple and straightforward, there is a lot that comes with leasing for two reasons.
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