Euro zone and IFRS 16: Difference between pages

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imported>Doug Williamson
(Update post-31 Jan 2020.)
 
imported>Doug Williamson
(Be explicit on scope.)
 
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''The euro.''
International Financial Reporting Standard 16, dealing with leases.


The Euro zone is the collective name for the 19 countries adopting European Monetary Union (EMU) in full.
Sometimes written 'Eurozone', 'eurozone' or 'Euro-zone'.


More formally known as the 'euro area' and more informally as 'euroland'.  
IFRS 16 is effective from 1 January 2019.  


In broad terms, it requires all lease liabilities to be accounted for 'on balance sheet', by companies reporting under international financial reporting standards.


The 19 countries in the euro area are:
This change will remove the former distinction between [[operating lease]]s and [[finance lease]]s.


Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.
IFRS 16 replaces IAS 17: Leases.




The eight European Union (EU) countries which are not in the euro area are:
Issued by the International Accounting Standards Board.


Bulgaria, Croatia, the Czech Republic, Denmark, Hungary, Poland, Romania and Sweden.


 
==See also==
====Brexit====
*[[Finance lease]]
A referendum in the UK in June 2016 resulted in a vote for the UK to begin the process of leaving the EU.
*[[Operating lease]]
 
*[[IAS 17]]
 
*[[Lease]]
== See also ==
*[[International Financial Reporting Standards]]
* [[Bank supervision]]
* [[Brexit]]
* [[Central bank]]
* [[Core countries]]
* [[ESCB]]
* [[Eurobond]]
* [[European Central Bank]]
* [[European Financial Stability Facility]]
* [[European Monetary Union]]
* [[European Union]]
* [[Eurosystem]]
* [[Grexit]]
* [[Periphery countries]]
 
 
 
==== Currencies of EU countries not in the euro area ====
* [[BGN]]
* [[HRK]]
* [[CZK]]
* [[DKK]]
* [[HUF]]
* [[PLN]]
* [[RON]]
* [[SEK]]
* [[GBP]]
 
[[Category:Long_term_funding]]

Revision as of 09:40, 14 January 2016

International Financial Reporting Standard 16, dealing with leases.


IFRS 16 is effective from 1 January 2019.

In broad terms, it requires all lease liabilities to be accounted for 'on balance sheet', by companies reporting under international financial reporting standards.

This change will remove the former distinction between operating leases and finance leases.

IFRS 16 replaces IAS 17: Leases.


Issued by the International Accounting Standards Board.


See also

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