Critically analyse whether the IASB’s revised Conceptual Framework for Financial Reporting definitions of useful information, assets and liabilities, will enhance the usefulness of financial statements.

Critically analyse whether the IASB’s revised Conceptual Framework for Financial Reporting definitions of useful information, assets and liabilities, will enhance the usefulness of financial statements. The essay should draw on the application of IFRS16 Leases in a UK listed company to support the analysis.