This assignment aims at developing a clear understanding of students on Accounting standard for lease. Students are required to critically examine the new accounting standard for lease financing AASB 16. They will have to do research on relevant literature and demonstrate understanding and critical evaluation of key issues and different provisions on accounting standard for lease financing. They will have to refer and base their discussions on a complete understanding of AASB 16 Accounting for Leases.
In the body of the assignment, students will have to critically discuss the following issues:
Critical evaluation of the old accounting standard for lease (AASB 117) specifically highlighting the drawbacks
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