|WNS (HOLDINGS) LTD filed this Form 6-K on 11/05/2018|
WNS (HOLDINGS) LIMITED
NOTES TO UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands, except share and per share data)
Certain new standards, interpretations and amendments to existing standards have been published that are mandatory for the Companys accounting periods beginning on or after April 1, 2018 or later periods. Those which are considered to be relevant to the Companys operations are set out below.
IFRS 16 replaces IAS 17 Leases and related interpretations viz. IFRIC 4 Determining whether an Arrangement contains a Lease; SIC-15 Operating LeasesIncentives; and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease.
IFRS 16 substantially carries forward lessor accounting requirements in IAS 17 Leases. Disclosures, however, have been enhanced.
IFRS 16 is effective for annual reporting periods beginning on or after January 1, 2019. Early application is permitted for entities that apply IFRS 15 Revenue from Contracts with Customers at or before the date of initial application of IFRS 16.
A lessee shall apply IFRS 16 either retrospectively to each prior reporting period presented or record a cumulative effect of initial application of IFRS 16 as an adjustment to opening balance of equity at the date of initial application.
The Company is currently evaluating the impact of this new standard on its consolidated financial statements.