IFRS 16 Leases
E453765
IFRS 16 Leases is an International Financial Reporting Standard that overhauled lease accounting by requiring lessees to recognize most leases on the balance sheet as right-of-use assets and lease liabilities.
All labels observed (1)
| Label | Occurrences |
|---|---|
| IFRS 16 Leases canonical | 2 |
How this entity was disambiguated
This entity first appeared as the object of triple T4575838 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IFRS 16 Leases Context triple: [IFRS, includesStandard, IFRS 16 Leases]
-
A.
ASC 842 Leases
ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.
-
B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
C.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
-
D.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
E.
ASC 718 Compensation—Stock Compensation
ASC 718 Compensation—Stock Compensation is the U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and disclosure of share-based payment arrangements, such as stock options and restricted stock, granted to employees and other service providers.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IFRS 16 Leases Target entity description: IFRS 16 Leases is an International Financial Reporting Standard that overhauled lease accounting by requiring lessees to recognize most leases on the balance sheet as right-of-use assets and lease liabilities.
-
A.
ASC 842 Leases
ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.
-
B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
C.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
-
D.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
E.
ASC 718 Compensation—Stock Compensation
ASC 718 Compensation—Stock Compensation is the U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and disclosure of share-based payment arrangements, such as stock options and restricted stock, granted to employees and other service providers.
- F. None of above. chosen
Statements (56)
| Predicate | Object |
|---|---|
| instanceOf | International Financial Reporting Standard ⓘ |
| allowsMeasurementBasisForRightOfUseAsset |
fair value model for investment property under IAS 40
ⓘ
revaluation model ⓘ |
| appliesTo |
lessees
ⓘ
lessors ⓘ |
| basedOnConcept | control of the right to use an identified asset ⓘ |
| defines |
incremental borrowing rate
ⓘ
lease ⓘ lease modification ⓘ lease payments ⓘ lease term ⓘ right-of-use asset ⓘ |
| earlyApplicationPermitted | true ⓘ |
| effectiveDate | 2019-01-01 ⓘ |
| effectiveForPeriodsBeginningOnOrAfter | 2019-01-01 ⓘ |
| eliminatesForLessees | operating lease classification ⓘ |
| governs | presentation of lease-related assets and liabilities in financial statements ⓘ |
| issuedBy |
IASB
NERFINISHED
ⓘ
International Accounting Standards Board NERFINISHED ⓘ |
| jurisdiction | international ⓘ |
| lesseeAccountingModel | single on-balance sheet model ⓘ |
| measurementBasisForLeaseLiability | present value of lease payments ⓘ |
| measurementBasisForRightOfUseAsset | cost model ⓘ |
| objective | to ensure that lessees and lessors provide relevant information that faithfully represents lease transactions ⓘ |
| relatedToStandard |
IAS 36 Impairment of Assets
NERFINISHED
ⓘ
IAS 37 Provisions, Contingent Liabilities and Contingent Assets NERFINISHED ⓘ IAS 40 Investment Property NERFINISHED ⓘ IFRS 15 Revenue from Contracts with Customers NERFINISHED ⓘ |
| replaces |
IAS 17 Leases
NERFINISHED
ⓘ
IFRIC 4 Determining whether an Arrangement contains a Lease NERFINISHED ⓘ SIC-15 Operating Leases—Incentives NERFINISHED ⓘ SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease NERFINISHED ⓘ |
| requiresDisclosureOf |
additions to right-of-use assets
ⓘ
carrying amount of right-of-use assets by class of underlying asset ⓘ expense relating to leases of low-value assets ⓘ expense relating to short-term leases ⓘ maturity analysis of lease liabilities ⓘ variable lease payments not included in lease liabilities ⓘ |
| requiresRecognitionOf |
lease liabilities
ⓘ
right-of-use assets ⓘ |
| retainsForLessors |
finance lease classification
ⓘ
operating lease classification ⓘ |
| scopeExemption |
leases of biological assets within the scope of IAS 41
ⓘ
leases of low-value assets ⓘ leases to explore for or use minerals, oil, natural gas and similar non-regenerative resources ⓘ licences of intellectual property within the scope of IFRS 15 ⓘ rights held by a lessee under licensing agreements within the scope of IAS 38 ⓘ service concession arrangements within the scope of IFRIC 12 ⓘ short-term leases ⓘ |
| shortName | IFRS 16 NERFINISHED ⓘ |
| standardSetter | IFRS Foundation NERFINISHED ⓘ |
| status | in force ⓘ |
| title | Leases ⓘ |
| topic | lease accounting ⓘ |
| transitionApproach |
full retrospective approach
ⓘ
modified retrospective approach ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IFRS 16 Leases Description of subject: IFRS 16 Leases is an International Financial Reporting Standard that overhauled lease accounting by requiring lessees to recognize most leases on the balance sheet as right-of-use assets and lease liabilities.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.