Briefing / Accounting for leases – application of IFRS 16
This briefing sets out the basic requirements of the new accounting standard. It provides a summary of the decisions which will have to be made when applying the standard for the first time and it reflects the decisions that HM Treasury is expected to mandate. It also considers where the application of the new standard may be difficult and particular issues NHS bodies may need to consider.
This version of the briefing updates the one published in February 2018 to take account of HM Treasury exposure draft on the application of IFRS 16 to the public sector. Comments on the exposure draft should be sent to the appropriate regulator - provider bodies to NHS Improvement, CCGs to NHS England and ALBS and other bodies to DHSC - by 17 July along with a data return.
The briefing will be updated as HFMA members discuss the application of the standard and as HM Treasury and the Department of Health and Social Care issue further guidance.
Related content
The Institute’s annual costing conference provides the NHS with the latest developments and guidance in NHS costing.
The value masterclass shares examples of organisations and systems that have pursued a value-driven approach and the results they have achieved.