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July 25, 2024

IFRS 16 is applicable to the accounting for leases

IFRS 16 is applicable to the accounting for leases. Post a brief explanation of this Standard. How is it different from FASB ASC 842? Evaluate the accounting treatment of leases under ASC 842 vs. IFRS 16. Support your answer with examples if needed. You must go to the IFRS Standards website and this as one of your reference sources. IFRS link: https://www.ifrs.org/issued-standards/list-of-standards/ifrs-16-leases/

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