--- title: What is IFRS 16? A Complete Guide to Understanding Lease Accounting description: Learn everything you need to know about IFRS 16 lease accounting standards and how software like Nomos One can streamline processes and reduce errors. image: https://blog.nomosone.com/hubfs/AdobeStock_336028070.jpg --- [![nomos-one-logo](https://blog.nomosone.com/hubfs/branding/nomos-one-logo.svg)](https://www.nomosone.com/) - [Solutions](https://www.nomosone.com/solutions/) - [Industries](https://www.nomosone.com/industries/) - [About us](https://www.nomosone.com/about-us/) - [Resources](https://blog.nomosone.com/resources?_gl=1*f6nb8v*_ga*MTMwNzMyODY5MS4xNjUxMDI5MTI2*_ga_ENWR75D7RW*MTY4OTIwNDA1NC4xNTMuMS4xNjg5MjA0MTIxLjU2LjAuMA..) - [Contact us](https://www.nomosone.com/contact-us/) [![BOOK A DEMO](https://no-cache.hubspot.com/cta/default/22358451/ba1c23e5-f231-469d-a29a-b86a08251061.png)](https://cta-redirect.hubspot.com/cta/redirect/22358451/ba1c23e5-f231-469d-a29a-b86a08251061) [![LOGIN](https://no-cache.hubspot.com/cta/default/22358451/e945caf6-bf1b-4211-b261-7df9815e887a.png)](https://cta-redirect.hubspot.com/cta/redirect/22358451/e945caf6-bf1b-4211-b261-7df9815e887a) - 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[IFRS 16 Resources](https://blog.nomosone.com/resources) [![resources](https://blog.nomosone.com/hs-fs/hubfs/Nomosone/Images/resources.png?width=800&height=500&name=resources.png)](https://blog.nomosone.com/resources) - [Accessibility](https://info.nomosone.com/accessibility) [![accessibility](https://blog.nomosone.com/hs-fs/hubfs/GettyImages-1129377233.jpg?width=6720&height=4480&name=GettyImages-1129377233.jpg)](https://info.nomosone.com/accessibility) - [Roadmap](https://info.nomosone.com/roadmap) [![roadmap](https://blog.nomosone.com/hs-fs/hubfs/4.png?width=2000&height=1500&name=4.png)](https://info.nomosone.com/roadmap) ❓Frequently Asked Questions ## Ready to see Nomos One in action? Book your personalised demo and discover why growing businesses choose our platform [Book a demo](https://www.nomosone.com/book-a-demo/) ## More Articles ![Excel vs lease management and lease accounting software](https://blog.nomosone.com/hubfs/blog/excel-vs-lease-management-and-lease-accounting-software.jpg) #### [Excel vs Lease Management and Lease Accounting Software - Nomos One](https://blog.nomosone.com/resources/excel-vs-lease-management-and-lease-accounting-software) Why Excel falls short: A deep dive into the advantages of dedicated lease management and accounting... [Read More](https://blog.nomosone.com/resources/excel-vs-lease-management-and-lease-accounting-software) ![Leasing and management during tough economic times](https://blog.nomosone.com/hubfs/blog/managing-your-leases-during-tough-economic-times.jpg) #### [Leasing and Lease Management During Tough Economic Times - Nomos One](https://blog.nomosone.com/resources/leasing-and-management-during-tough-economic-times) Reduce your risk profile with strategic lease management In today’s uncertain economic climate,... [Read More](https://blog.nomosone.com/resources/leasing-and-management-during-tough-economic-times) ![Getting Value Out of IFRS 16 Reporting](https://blog.nomosone.com/hubfs/blog/getting-value-out-of-ifrs-16-reporting.jpg) #### [Getting Value Out of IFRS 16 Reporting](https://blog.nomosone.com/resources/getting-value-out-of-ifrs-16-reporting) Has your IFRS 16 reporting become too complex to manage efficiently? In 2016, IFRS 16 reporting was... [Read More](https://blog.nomosone.com/resources/getting-value-out-of-ifrs-16-reporting) [See More](https://blog.nomosone.com/resources) ![footer-logo](https://blog.nomosone.com/hubfs/Nomosone/Images/footer-logo.svg) ###### Solutions - [Lease Accounting](https://www.nomosone.com/solutions/lease-accounting/) - [Lease Management](https://www.nomosone.com/solutions/lease-management/) - [Onboarding](https://www.nomosone.com/solutions/onboarding/) - [Managed Services](https://www.nomosone.com/solutions/managed-services/) ###### Industries - [Aviation](https://www.nomosone.com/industries/aviation/) - [Banking](https://www.nomosone.com/industries/banking/) - [Childcare](https://www.nomosone.com/industries/childcare/) - [Corporate](https://www.nomosone.com/industries/corporate/) - [Education](https://www.nomosone.com/industries/education/) - [Finance](https://www.nomosone.com/industries/finance/) - [Healthcare](https://www.nomosone.com/industries/healthcare/) - [Hospitality](https://www.nomosone.com/industries/hospitality/) - [Infrastructure](https://www.nomosone.com/industries/infrastructure/) - [Retail](https://www.nomosone.com/industries/retail/) - [Telecommunications](https://www.nomosone.com/industries/telecommunications/) - [Utilities](https://www.nomosone.com/industries/utilities/) ###### About us - [Join our team](https://www.nomosone.com/about-us/join-our-team/) - [Partners](https://www.nomosone.com/partners/) - [10 Years of Nomos One](https://www.nomosone.com/about-us/10-years/) - [Our Customers](https://www.nomosone.com/our-customers/) - [Compliance](https://www.nomosone.com/compliance-update/) - [Terms of Use](https://www.nomosone.com/terms-of-use/) - [Privacy Policy](https://www.nomosone.com/privacy-policy/) ###### Resources - [IFRS 16 Resources](https://blog.nomosone.com/resources) - [Latest News](https://blog.nomosone.com/news) - [Accessibility](https://info.nomosone.com/accessibility) - [Roadmap](https://info.nomosone.com/roadmap) ###### Contact us **New Zealand** [0800 002 332](tel:0800%20002%20332) **Australia** [1800 012 222](tel:1800%20012%20222) **International** [+64 3 470 1912](tel:+64%203%20470%201912) **Email** support@nomosone.com **Support Team hours** Weekdays 9am – 5pm NZT **Office Location** Level 1 115 Stuart Street Dunedin 9016 New Zealand ###### Sign up to our newsletter Keep up to date with the latest news, updates and promotions ###### Follow us Nomos One does not provide or purport to provide any accounting, financial, tax, legal or any professional advice, nor does Nomos One purport to offer a financial product or service. Nomos One is not responsible or liable for any claim, loss, damage, costs or expenses resulting from your use of or reliance on these resource materials. It is your responsibility to obtain accounting, financial, legal and taxation advice to ensure your use of the Nomos One system meets your individual requirements. ![](https://px.ads.linkedin.com/collect/?pid=4539705&fmt=gif) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "David Hayman", "url" : "https://blog.nomosone.com/resources/author/david-hayman" }, "dateModified" : "2024-09-24T21:58:50.726Z", "datePublished" : "2023-04-17T02:52:57.000Z", "headline" : "What is IFRS 16? A Complete Guide to Understanding Lease Accounting", "image" : [ "https://blog.nomosone.com/hubfs/AdobeStock_336028070.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.nomosone.com/resources/what-is-ifrs-16-a-complete-guide-to-understanding-lease-accounting", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.nomosone.com/hubfs/branding/nomos-one-logo.svg" }, "name" : "Nomos Limited" } } ```