Guernsey has published GSCCA Circular 16 of 30 November 2020 concerning the effect of International Financial Reporting Standard (IFRS) 16 in relation to operating leases.
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International Financial Reporting Standard (IFRS)16 - Leases
IFRS16 is effective for accounting periods commencing on or after 1 January 2019, with earlier application permitted. Under this standard the profit and loss account for operating leases will include a depreciation charge in respect of the right of use of…