IFRS 16 and Inclusion: Difference between pages

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International Financial Reporting Standard 16, dealing with leases.
''Diversity and inclusion.''


IFRS 16 replaces IAS 17: Leases.
The aim of inclusion is to embrace all people irrespective of race, gender, disability, medical or other need.  


IFRS 16 is mandatory - for companies reporting under international financial reporting standards - from 1 January 2019.  
Inclusion is about giving equal access and opportunities and getting rid of all forms of discrimination and intolerance.




IFRS 16 requires most lease liabilities to be accounted for 'on balance sheet'.
Inclusive design is about making workplaces and public places that everyone can use.  


This change will remove the former distinction between [[operating lease]]s and [[finance lease]]s.
Inclusive design aims to remove the barriers that create undue effort and separation.  


It enables everyone to participate equally, confidently and independently.


Broadly speaking, IFRS 16 requires all leases to be recognised on the balance sheet, other than short term leases or those for low value assets. The leases to be brought 'on balance sheet' under IFRS 16 include most operating leases that are currently 'off balance sheet' under IAS 17.


IFRS 16 will lead to increased transparency and improved comparability between companies that lease and companies that borrow to buy assets. However, for many companies IFRS 16 will result in a material restatement of their balance sheets.
== See also ==
* [[30% Club]]
* [[ACT Diversity and Inclusion Calendar]]
* [[BAME]]
* [[Board of directors]]
* [[Centre for Excellence in Financial Inclusion]]
* [[Corporate governance]]
* [[Corporate social responsibility ]]
* [[Digital exclusion]]
* [[Diversity]]
* [[Equality and Human Rights Commission]]
* [[Equitable]]
* [[Financial exclusion]]
* [[Financial inclusion]]
* [[Financial wellbeing]]
* [[Lifelong learning]]
* [[SDG 4]]  -  inclusive & equitable quality education & lifelong learning opportunities for all


This will normally impact any financial covenant ratios that include ‘debt’, ‘net worth’ or similar indicators, subject to any 'frozen GAAP' provisions. EBITDA and the interest cover ratio are also likely to be impacted.


== Other link ==
[http://www.treasurers.org/Diversity ACT Diversity and Inclusion Calendar]


IFRS 16 is issued by the International Accounting Standards Board.
[[Category:Working_effectively_with_others]]
 
[[Category:Compliance_and_audit]]
 
[[Category:Ethics]]
==See also==
*[[Finance lease]]
*[[Operating lease]]
*[[IAS 17]]
*[[Lease]]
*[[Debt]]
*[[EBITDA]]
*[[Frozen GAAP]]
*[[Interest cover]]
*[[Net worth]]
*[[International Financial Reporting Standards]]

Revision as of 08:43, 10 July 2022

Diversity and inclusion.

The aim of inclusion is to embrace all people irrespective of race, gender, disability, medical or other need.

Inclusion is about giving equal access and opportunities and getting rid of all forms of discrimination and intolerance.


Inclusive design is about making workplaces and public places that everyone can use.

Inclusive design aims to remove the barriers that create undue effort and separation.

It enables everyone to participate equally, confidently and independently.


See also


Other link

ACT Diversity and Inclusion Calendar

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