A major difference between IFRS 16 and IAS 17 is that the new standard introduces a single lessee accounting model,abandoning the distinction between operating lease and finance lease.

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IFRS 16 introduces a single lessee accounting model, which means that there is no longer a distinction between operating lease and finance lease under the new standard. This is a major difference from the previous standard, IAS 17.

A Major Difference Between IFRS 16 and IAS 17 Is