First Meeting of the ASCG’s preparer forum on the implementation of IFRS 16

On 19 June 2017, the ASCG’s preparer forum on the implementation of IFRS 16 Leases met for the first time. During this one-day event, representatives from 30 ASCG member companies and organisations came together to discuss issues arising from the implementation of the new standard.

In addition to receiving a summary of the recent developments regarding EFRAG’s endorsement process, the following topics were discussed by the group:

• uniform provision of accounting-relevant contract data by the lessors;
• reporting experiences from the transition to IFRS 16;
• collecting and categorizing lease objects;
• leases from contract manufacturing.

The meeting lead to very positive feedback from the participants. The next meeting of the preparer forum will likely take place November 2017.