Nomos One helps you manage your complex property, asset and even intangible asset portfolios to ensure you keep track of it all, while maintaining compliance with the latest lease accounting standard, IFRS 16/ASC 842.
Easily save your leases, licences, easements, resource consents, grants, general contracts and any other agreement for each property, site or asset into nomos one to automate critical date reminders and reporting.
You can even split your portfolio by region, team, agreement type or entity to ensure the right people have the right access whenever they need it.
Are you ready for the new global lease accounting standard?
The International Financial Reporting Standards 16 – Leases (IFRS 16) applies to financial periods from 1 January 2019. If you are based in the US, then the new FASB lease accounting rules apply to fiscal periods beginning after 15 December 2018. It impacts on lessees all around the globe.
The new lease accounting standards require significant changes to lessee accounting. Lessees will have to bring on balance sheet a lot of leases, which would have previously been off balance sheet under the old lease accounting standard.
Lease accounting is no longer a set and forget option. Infrastructure companies need to forecast all payments expected across the lifetime of your properties, sites and assets, account for any renewals, expected changes in rent, discount rates and more. New depreciation schedules have to be created to meet the requirements of this new standard.
Fortunately, Nomos One is well prepared for the new lease accounting standards. Industry leaders have worked with us to design a fully automated, audit compliant module which is available for demo.
On-boarding & support
When you join Nomos One, you have the option to engage our on-boarding services. We have a legally trained team who work with you to bring all your agreements into the Nomos One system on your behalf. We don’t want to leave you in the lurch so we also provide you with training and ongoing support.