Are you ready for the biggest lease accounting standard change in the last 30 years?
You should already be aware of IFRS 16 – Leases/ASC 842 but you’re probably wondering how you are going to manage the new requirements. Don’t fret, we’ve got you covered. We have developed the most intuitive lease management system for you, which is also compliant with the new lease accounting standard. Phew!
The IASB estimate more than 85% of lease commitments held by listed companies using current IFRS or US GAAP do not currently appear on balance sheets, eek!
We have worked with industry leaders to design and build a fully integrated IFRS 16/ASC 842 module which takes into account all criteria of the new standard including transition methods. It can generate depreciation schedules and asset and liability values for each lease across your entire portfolio.