C Complying with the latest accounting regulations requires clear and reliable financial statements. since 2024, psak 116 on leases stipulates that every lease contract must be recognized as a right-of-use asset (rou asset) and a lease liability, including short-term leases and low-value assets. the purpose of this study is to examine how psak 116 is applied to operational vehicle lease transactions at pt xyz, a market research company. the author was directly involved in preparing financial statements during an internship at pt japan asia consultants, where the research was conducted.using a case study approach and descriptive analysis, data was obtained from lease contracts, invoices, accounting records, and discussions with relevant staff. the results of the study show that pt xyz has implemented psak 116 appropriately, including the calculation of present value using a discount rate of 7.12% and the recognition of right-of-use assets and lease liabilities amounting to idr 234,710,365. the application of this standard has resulted in an increase in assets and a change in lease expenses to depreciation and interest. however, pt xyz still faces technical challenges in calculating present value, classifying liabilities, and disclosing leases.keywords : psak 116, leases, right-of-use assets, lease obligations, financial statements, service companies.