Assignment:

Read the article entitled ''Shining the Light on Leases' on the IASB website.

You work as a graduate for a medium sized accounting firm and a number of clients are asking questions about a forthcoming change in the leasing standard, due to come into effect from 1 January 2019. As such one of the partners has asked you to prepare a draft client letter. You need to prepare the document, bearing in mind that the client letter needs to be written for non-accountants. The draft client letter should include the following points as a minimum (remembering that technical accounting language will not help the client to understand):

1. Outline the reasons the leasing standard is changing

2. Outline the impact the change may have (or problems it may cause) and how these problems can be overcome

3. Summarise the letter and offer further advice if needed

You may find further useful resources on the IASB website, the AASB website and on the websites of major accounting firms.

Attachment:- Article Link.rar