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Andy Haywood

Recent Posts

IFRS 16 gets personal – Lease Accounting Standard Impact for Incentive Compensation Payments & Earn-outs

Posted by Andy Haywood on 20/10/16 16:12

The new lease accounting standards will undoubtedly have an impact at a company level, but with the shift in key financial metrics likely to affect reporting KPI’s and associated incentive payouts, this time, it’s also personal.

IFRS 16 Update: EFRAG issue Preliminary Consultation Document regarding new lease accounting standard

Posted by Andy Haywood on 13/10/16 10:30

Back in June 2016, the European Financial Reporting Advisory Group (EFRAG) began an assessment review of the suitability of IFRS 16 leases, the IFRS Foundation’s new lease accounting standard.

What is the IFRS 16 Exemption for Low Value Assets? (With IFRS 16 Example)

Posted by Andy Haywood on 06/10/16 10:30

The new international lease accounting standard, IFRS 16 Leases, contains numerous transitional and general exemptions to help reduce the costs associated with bringing virtually all leases onto balance sheet. One of these exemptions, which many lessees have asked for additional clarification, is the option to not disclose leases for low value assets under IFRS 16.

5 Questions for Finance Directors about Leasing and New Lease Accounting

Posted by Andy Haywood on 30/09/16 11:30

The number of companies who utilise leasing as a standard to procure the assets they need is greatly out-measured by the number of businesses who have a dedicated focus on their lease management. As an aspect of business that companies invest a great deal of capital into, it is surprising how few have the tools and expertise to make the most out of their leasing.

Industry Focus: Evaluating the Impact of IFRS 16 on the Transport and Logistics Industry

Posted by Andy Haywood on 15/09/16 14:30

Any company that uses leasing as a method to finance their assets will be impacted by the upcoming implementation of IFRS 16 and FASB ASC 842. However, the new lease accounting standards will have a more significant impact on certain industries, including those within the transportation and logistics sector.

Preparation Deadline for New Lease Accounting is Sooner Than We Thought

Posted by Andy Haywood on 02/09/16 10:00

Following the announcement of IFRS 16 and FASB ASC 842 earlier this year, businesses can begin the process of implementing the new global lease accounting standards. However, they need to start preparations now if they want to meet them.

IFRS 16 Causes HMRC to Consider New Lease Tax Treatment

Posted by Andy Haywood on 19/08/16 10:30

The biggest change to lease accounting in 30 years is already having a large impact on lessees’ finances and now HMRC is considering whether to reform the tax treatment of plant and machinery leases.

Back to Leasing Basics: Finance Lease vs Operating Lease

Posted by Andy Haywood on 11/08/16 12:00

As it currently stands, leases are generally divided into two types. Although there are many variations and derivatives of a lease, they are usually described as either Finance Leases (also known as Capital Leases) or Operating Leases.

The Importance of an Early Lease Accounting Impact Report: IFRS 16 Example

Posted by Andy Haywood on 04/08/16 10:30

IFRS 16 and FASB ASC 842 are set to revolutionise the way companies account for their leases, which will have a knock on effect on their balance sheets, income statements, as well as impacting important financial metrics. As virtually every company that leases will be impacted, it is vital that lessees conduct an assessment of the new standards’ impact on their financial statements and operational performance as early as possible.

Industry Focus: Assessing the Impact of IFRS 16 on the Telecommunications Industry

Posted by Andy Haywood on 21/07/16 10:30

The telecoms industry is connecting people all around the globe; they are also one of the most impacted sectors by the new lease accounting standard, IFRS 16.