This report focuses on AASB 16 on Accounting for Leases, analyzing the accounting treatment of operating lease revenue, payments, and leasehold enhancements, and recommending that Wesfarmers apply and classify the lease as per AASB 16 and make the necessary disclosures.

Issues in Financial Accounting

Creative Approach and Analysis OR Presentation & Analysis

Analyzing Wesfarmers' 2017 annual report, this report recommends applying AASB 16 for lease accounting and making required disclosures.

Issues in Financial Reporting: AASB 16 on Accounting for Leases

This essay discusses the impact of AASB 16 on ANZ Bank and the banking industry in Australia. It highlights the changes in lease accounting and their effects on the balance sheet, income statement, and cash flow statement. It also covers the lifecycle and stages of lease agreements for the banking sector.

Finance

Impact of AASB 16 on ANZ Bank: Lease Accounting Changes

This report sheds light on the existing as well as upcoming lease accounting standard in Australia in relation to Wesfarmers Limited. It shows the potential effects of the adoption of new lease accounting standard, AASB 16/IFRS 16 on the financial situation and performance of the company. The report also shows how the adoption of new lease accounting framework will improve financial reporting.

Hartpury University and Hartpury College

Financial Reporting Disclosures in the Australian Corporate Sector

This report discusses the AASB 117 standard on leases, lease incentives, proposed accounting policies, and potential economic consequences for changes in accounting standards. It also covers the impact of new standards adopted by the Group.

Accounting Financial Analysis Report

This document discusses contemporary financial reporting and accounting for tax. It provides insights into Woolworths and Wesfarmers' financial reporting. Woolworths segregates the lease as finance lease when terms of the lease substantially transfers all the rewards and risks related to ownership of asset to lessee. On the other hand, Wesfarmers segregates the leases as finance lease and operating lease based on whether the company substantially holds all rewards and risks associated with ownership or not. Both the companies have not recorded any amount for leased liabilities for 2017 as well as 2018. Download now on Desklib.

Contemporary Financial Reporting

This essay provides a review of the new lease standard AASB 16 and its impact on the financial reporting of Wesfarmers Limited. It discusses the changes in lease accounting under the new standard, the lease arrangements of Wesfarmers, and the short-term and long-term impacts on lease accounting. The essay also explores the lease agreements in the Australian retail sector and the lifecycle and stages affected by AASB 16.

Impact of AASB 16 on Lease Accounting: A Case Study of Wesfarmers

This report discusses the types of lease and how they are accounted for under AASB 117 and AASB 16. It also explores the need for change, the changes made, and the effects on companies. Includes a case study of Aspen Group Limited.

Issues in Financial Reporting: AASB 16 on Accounting for Leases

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Impact of AASB 16 on ANZ Bank: Lease Accounting Changes

Financial Reporting Disclosures in the Australian Corporate Sector

Accounting Financial Analysis Report

Contemporary Financial Reporting

Impact of AASB 16 on Lease Accounting: A Case Study of Wesfarmers

Accounting for Lease: A Comparison of AASB 117 and AASB 16

Issues in Financial Reporting: AASB 16 on Accounting for Leases

End of preview

Impact of AASB 16 on ANZ Bank: Lease Accounting Changeslg...

Financial Reporting Disclosures in the Australian Corporate Sectorlg...

Accounting Financial Analysis Reportlg...

Contemporary Financial Reportinglg...

Impact of AASB 16 on Lease Accounting: A Case Study of Wesfarmerslg...

Accounting for Lease: A Comparison of AASB 117 and AASB 16lg...

Impact of AASB 16 on ANZ Bank: Lease Accounting Changes

Financial Reporting Disclosures in the Australian Corporate Sector

Accounting Financial Analysis Report

Contemporary Financial Reporting

Impact of AASB 16 on Lease Accounting: A Case Study of Wesfarmers

Accounting for Lease: A Comparison of AASB 117 and AASB 16