Our Resource Centre is a hub for all things leasing.

Applying IFRS 16 – Understanding the Termination and Extension Options

Posted by Ryan Hendrie on 28/09/18 09:58

 

Issued by the IASB, IFRS 16, published in 2016, replaces its counter-regulation IAS 17 and will apply for all and any annual accounting periods from January 1st, 2019.

Applying IFRS 16 – What are the Practical Expedients Under the New Standard?

Posted by Ryan Hendrie on 04/09/18 14:19

For annual accounting periods from January 1st, 2019 IFRS 16 replaces IAS 17 and its associated interpretations. This new standard, just like IAS 17 before it deals with the accounting treatment of leases, but it is fair to say in a more prescriptive manner than just setting out guidelines to be interpreted.

Applying IFRS 16 – Areas Of The New Standard Requiring Significant Judgement

Posted by Ryan Hendrie on 23/08/18 11:59

 

It may be a slight exaggeration but generally, all businesses whether in the private or public sectors use leasing as a means to acquire the use of assets and/or property in their operations. And with this in mind, the IASB and FASB have been attempting to draft, design and develop a standard for recognising the asset and any associated financial liabilities now or in the future. In 2016 the standard in the form of IFRS 16 was issued by IASB and as FAS 13 (update ASC842) by FASB.

Applying IFRS 16 - Separating Lease and Non-Lease Components

Posted by Ryan Hendrie on 21/08/18 11:45

 

Wouldn’t it be great if all elements or components within a lease agreement related to the lease and would, therefore, fall under IFRS 16? However, contracts often combine different obligations from suppliers which result in different lease components and separate non-lease components.

Tips For A successful and Compliant Lease Accounting Transition

Posted by Ryan Hendrie on 22/06/18 11:43

 

Overview: What does the new lease accounting standard entail?

Recent Survey Reveals Businesses Are Behind in Their Transition to New Lease Accounting Standards

Posted by Ryan Hendrie on 14/06/18 11:14

Back in February 2016, The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASC 842) with the intention of improving on implementation the financial reporting of lease transactions whether the leasing of aircraft, property or equipment of any type – IT, copier, medical or manufacturing.

How to Overcome the Roadblocks in Your Lease Accounting Implementation Project

Posted by Ryan Hendrie on 17/05/18 11:11

The introduction of the IFRS 16 standard on 1st January 2019 is set to transform the way businesses prepare and use their balance sheets. Regarded by many as the “biggest accounting change ever,” there are only a few months until the standard takes effect and there are a lot of roadblocks to overcome.

IFRS 16 Under One Year Remaining: What’s Left to Do?

Posted by Ryan Hendrie on 15/05/18 10:23

 



Leases have long been used and favoured by corporations as a type of off-balance sheet financing. IFRS 16, which will come into force on January 1st 2019, will change that and provide a more transparent means for investors to analyse the financial health of a company. This gives companies just months to be IFRS-ready and the time to take action is now.

Determining The Appropriate Lease Discount Rate Under IFRS 16

Posted by Ryan Hendrie on 03/05/18 10:07

 



With upcoming changes to compliance standards being implemented with IFRS 16, companies will be expected to bring all leases onto their balance sheets.

The Importance Of Finding The Right Lease Accounting Software For Your Business

Posted by Ryan Hendrie on 12/04/18 10:07

Most companies aren’t prepared for the upcoming lease accounting changes even though the implementation deadline, 1st January 2019, is fast approaching.