Leasing is a significant as
well as widely used solution in financing for various types of businesses.
Leasing allows businesses to use and to have access to properties and equipment
without having to incur great cash outflows. This report sets out
the topic of lease with the purpose of analyzing IPH Ltd’s current lease
agreement, it includes all the applicable classifications as well as a summary regarding
the company’s current accounting treatment, presentation as well as disclosure
in the company’s financial statements in regards to AASB 117 Leases. It will be
followed by a summary of the new rules in accordance with AASB 16 Leases and
the reasons for changes from the current accounting standard AASB 117 Leases.
This report will also discuss as well as analyze the potential impacts on the
company’s financial position and financial performance from the application of
the new rules on the current lease contracts as per the latest annual report,
which will be followed by a
conclusion and recommended actions to best prepare IPH Ltd for the new