Which one of the following statements best describes lessee disclosure requirements under IFRS 16?
Right-of-use assets and lease liabilities may be presented within other assets and liabilities on the statement of financial position as long as the amounts are disclosed in the notes
Right-of-use assets and lease liabilities are always classified as current
Right-of-use assets and lease liabilities are always classified as non-current
Right-of-use assets and lease liabilities must be presented separately from other assets and liabilities on the statement of financial position
Right-of-use assets and lease liabilities must be presented separately from other assets and liabilities on the statement of financial position, in accordance with IFRS 16. This means they should be distinctively recognized and not aggregated with other assets and liabilities. Therefore, the statement that best describes lessee disclosure requirements under IFRS 16 is:
Right-of-use assets and lease liabilities must be presented separately from other assets and liabilities on the statement of financial position.
