This report provides a comprehensive analysis of AASB 16 Leases and its impact on financial reporting, particularly for lessee companies. It examines the changes introduced by the standard, focusing on the recognition of right-of-use assets and lease liabilities on the balance sheet, and the subsequent effects on the income statement and cash flows. The report uses Speedcast International Ltd as a case study to illustrate the practical implications of AASB 16 on financial ratios, stakeholder perceptions, and decision-making. It also addresses the reporting of environmental and social aspects of leased assets and summarizes the overall usefulness of AASB 16 for users of financial statements, including investors and financial institutions. The report concludes by highlighting the key changes in lease recognition and the impact on various financial metrics, offering insights for stakeholders and management.