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Implicit Interest Rate
An interest rate inferred from the cost of borrowing, or the return on investment, that is not explicitly stated.
AASB 16
The Australian Accounting Standards Board standard on leases, which outlines the principles for recognition, measurement, presentation, and disclosure of leases.
IFRS 16
The International Financial Reporting Standard dictating lease accounting, requiring lessees to recognize nearly all leases on the balance sheet.
Lease Agreements
Contracts that outline the terms under which one party agrees to rent property owned by another party.
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