Product Service System for Volvo Trucks: Finding new business value compliant with IFRS 16 leasing regulations.
The International Accounting Standards Board (IASB) in January 2016 published International Financial Reporting Standards (IFRS 16), new guidelines on leasing standards with an effective date of January 1st, 2019. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (‘lessee’) and the supplier (‘le