• SATHYANARAYANA GARDASU

The main purpose of this paper is to examine the perceptions of auditors and accounting professionals on leases (IFRS -16). This study has applied objectives and methodology of this research is an exploratory – survey research. While the International Accounting Standard board (IASB) has retained IAS 17’s finance lease / Operating lease distinction for lessors, the distinction is no longer relevant for lessees. All lease contracts, including renting contracts, will we recognised on the balance Sheet of the lessees, with some exceptions in limited circumstances. The standard will have broad implications for many stakeholders and metrics, including finance departments, property teams, banking covenants, remunerations schemes, and regulatory compliance. IFRS 16 will replace IAS 17 for reporting periods beginning on or after 1st January 2019 with a retrospective application by default. The current paper reports on an exploratory research of professional of two different sub – groups of responds there are chartered accountants and professional accountants about issues relevant adopting IFRS 16 Leases. The primary data was collected from respondents ofHyderabad through the use of a structured questionnaire and analysed using means scores, standard deviation,and Pearson Chi- Square analysis by using SPSS(Statistical Package for Social Sciences).Finally, conclude that there is a significant impact of IFRS 16 on financial statements (Income statement & Balance sheet) of the companies.

IFRS -16, IAS 17 Vs. IFRS 16, IFRS 16 Impact.

"PERCEPTIONS OF ACCOUNTING PROFESSIONALS TOWARDS LEASES (IFRS -16) – EVIDENCE FROM HYDERABAD", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 2, page no.10-16, February-2019, Available :http://www.jetir.org/papers/JETIRY006003.pdf

"PERCEPTIONS OF ACCOUNTING PROFESSIONALS TOWARDS LEASES (IFRS -16) – EVIDENCE FROM HYDERABAD", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 2, page no. pp10-16, February-2019, Available at : http://www.jetir.org/papers/JETIRY006003.pdf