1. What are top three industries most affected by IFRS 16 as measured by present value of future payments for off-balance-sheet leases to total assets? Which leased assets propel them to the top three? Also discuss the extent that smaller firms would be affected by IFRS 16.

2. Which payments are to be included in the measurement of lease assets and lease liabilities? Also discuss pros and cons of excluding the following payments from the measurement.

- Variable lease payments linked to future use or sales

- Optional payments relating to lease-extension option when a lessee is not reasonably certain to exercise the option.

3. Discuss the effects of the new accounting on the following items and ratios of lessees. Provide reason(s) behind all effects

1. EBITDA, operating profit, and profit before tax

2. Operating cash flow, financing cash flow, and total cash flow

3. Debt to equity, current ratio, and return on total assets