"The new accounting reporting changes come into effect on 1 January 2019, as far as I am aware, as TRS balance date ends on 31 June, the new accounting standards e.g., reporting lease liability and lease asset won't apply in this financial year."
It will apply this financial year; companies will report their FY2019 full-year results on that way, if not on a statutory basis, then certainly on a pro forma basis.
"The other case is when they do crop up in FY2020 there will also be a decent uptick in lease assets and as they payback the lease on a yearly basis the value of the lease liability reduces."
That will only be the case if a company does not renew any of its leases.
And why would that possibly happen?
"It more a case of everything being transparent whereas previously we shareholders knew it existed just not the extent and value."
Not sure why shareholders would not know the extent and the value of lease liabilities. That information is clearly laid out in the Annual Report in a fully transparent manner.
(Sure, granted - as we have seen - not everyone actually reads the Annual Reports of companies in which they are shareholder. Which is bizarre in and of itself, but I'm not sure what company managers can do to force people to look at the important information that the companies present.)
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