New Zealand

Lease Accounting New Zealand

Entities who have any form of lease will be impacted by changes to lease accounting definitions and thus accounting standards under NZ IFRS 16, applying to financial years beginning on or after January 1, 2019.

The changes will see a single accounting model for all leases, where there is no distinction between finance and operating leases for lessees. This single recognition model will require all entities to recognise both assets and liabilities arising for all leases, with limited exemptions. The outcome of these changes could have significant impact on classifications in financial reporting and therefore effect an entity’s overall financial position.

The following comparative report, Lease Accounting prepared by William Buck, outlines the key changes, transition options and new accounting scenarios as well as possible consequences from these changes.

For further information regarding these changes contact your William Buck local office.

lease-account

Lease Accounting >

 <Back

Lease Accounting NZ Specialists

Our latest insights

New disclosure requirements for domestic trusts
3 November 2021 | Minutes to read: 3

New disclosure requirements for domestic trusts

Following amendments to the Tax Administration Act 1994 in December 2020, trustees of certain domestic trusts will...
Is your strategic management report set up for effective decision making?
25 October 2021 | Minutes to read: 5

Is your strategic management report set up for effective decision making?

Management reports aim to allow users to assess the company’s strategy, identify its strengths and concerns and...
New taxation Bill responds to changing business practices and technology
14 October 2021 | Minutes to read: 7

New taxation Bill responds to changing business practices and technology

The new Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Bill includes a range of proposed...

Be Informed

Be Informed is William Buck's regular newsletter, filled with up to date news and relevant advice for individuals and businesses.

Get in touch!