IMPLEMENTATION OF THE NEW REQUIREMENTS OF IFRS 16 “LEASES” INTO THE ACCOUNTING PRACTICE OF COMMERCIAL ORGANIZATIONS

The article discusses IFRS 16 “Lease” from both a theoretical and a practical point of view. The main provisions of the standard and the new definition of the concept of “rent” are analyzed. A comparative analysis of the previous provisions of IAS 17 with new provisions, such as the method of recognizing expenses, accounting for leases on the lessee’s balance sheet and disclosure requirements, has been carried out. From a practical point of view, the main difficulties and challenges faced by companies when the new standard appeared are considered, and a number of recommendations are provided that will contribute to the successful integration of the standard into accounting practice. The results of the implementation of IFRS 16 requirements into accounting practice are also analyzed, using the example of PJSC «Magnit».