Our Resource Centre is a hub for all things leasing.

Public Sector IFRS 16 Implementation Deadline Deferred to April 2022

Posted by Ryan Hendrie on 08/12/20 12:18

Important announcement for local authorities - December 2020: In light of COVID-19 pressures, the CIPFA LASAAC Local Authority Accounting Code Board has agreed to defer the implementation of IFRS 16 Leases in the Code of Practice until the 2022/23 financial year.

COVID 19: Accounting for Rent Concessions Under IFRS 16 and ASC 842

Posted by Ryan Hendrie on 20/07/20 12:35


In response to the coronavirus pandemic, many lessees have been requesting and negotiating rent concessions from lessors such as rent holidays, payment deferrals and partial rent forgiveness. Such concessions can have a variety of accounting implications under the current lease accounting guidelines.  

IFRS 16 – Accounting for COVID-19 Lease Concessions

Posted by Ryan Hendrie on 21/05/20 15:56

Since the arrival of the COVID-19 pandemic here in the UK and the subsequent “lockdown”, HMG has announced several measures to protect both lessees and lessors with regards to the collection of rentals and repossession of properties.

IFRS 16: Public Sector Implementation Deadline Deferred Until 2021/22

Posted by Ryan Hendrie on 20/05/20 16:09

Important Announcement - March 2020: In light of COVID-19 pressures, HM Treasury and the Financial Reporting Advisory Board (FRAB) have decided that the IFRS 16 implementation deadline of 1 April 2020 for the public sector will be deferred for a further year, to 2021/22.

Applying IFRS 16: Implementation In Practice [Webinar Recording]

Posted by Ryan Hendrie on 27/04/20 16:55


Watch as director of Innervision, Martin Kennard and Jenny Britt, Senior Manager - Ernst & Young's Financial Accounting Advisory Services discuss the challenges of transitioning to the new lease accounting standards.

How will AI Impact The Future Of Accountancy?

Posted by Ryan Hendrie on 21/01/20 11:00

Artificial Intelligence (AI) is an expression that is currently cropping up everywhere we look, hear and read.  

Financial Accounting & Reporting Outlook: Lease Accounting In Focus for Lessee

Posted by Ryan Hendrie on 17/01/20 15:43


We are now almost four years (at the time of writing) on from the publishing of the new lease accounting standard IFRS 16 and the FASB 842 and preparers will be turning their minds to actually reporting under the relevant standard - transition to compliance now completed or nearing completion.

IFRS 16 - Establishing The Lease Term

Posted by Ryan Hendrie on 02/01/20 11:15


There are many hurdles, judgements and considerations in preparing a lease for compliance under the rules of IFRS 16.

IFRS 16 & ASC 842 Implementation - Are You Behind The Curve Too?

Posted by Ryan Hendrie on 09/12/19 14:09


Over the last 3 or more years Innervision has consistently monitored and reported on polls from various sources that have addressed the progress or lack of it concerning to the transition to and compliance with IFRS 16 and ASC 842.

Reporting your IFRS 16 compliance in your Financial Statements

Posted by Ryan Hendrie on 02/12/19 15:51


There are plenty of bodies, boards, institutions and councils offering guidance on how you should present your accounts and financial reports.