The importance of the amendments made in the accounting practices of lease contracts in light of the application of the International Financial Reporting Standard (IFRS 16 (

Abstract

All contracts with leasing characteristics are divided into two categories, the first is a financing lease and the second is a simple operating lease, This study addresses a basic problem represented in anal zing the importance of developments related to accounting practices for lease contracts, As a result of applying the International Financial Reporting Standard (IFRS 16) which replaces the International Accounting Standard (IAS 17). The results of the study concluded that the application of this standard (IFRS 16) ensures the achievement of the main and targeted change in the way tenants deal with lease contracts, As well as the importance of enhancing the level of information provision to ensure the fundamental analysis of those contracts ,In addition to the need to enhance the level of accounting disclosure in exceptional cases, such as the conditions of renegotiation of the contract.