IFRS 16 Lease Accounting
The trusted solution for IFRS 16 (AASB 16) reporting.
IFRS 16 calculations
Automatically calculate right-of-use assets and lease liability across your portfolio. Create asset classes and apply bulk settings across agreements with similar characteristics and easily save discount rates, rent increases, future payments, make-good payments and incentives against your portfolio.
IFRS 16 Initial Measurement
- Automatically calculates the present value of the expected future lease payments
- Accommodates term options into lease term calculation
- Gives option to exclude exempt leases (short term or low value)
- Adjusts right of use asset by a restoration / make-good provision or any direct costs incurred
- Incorporates any purchase options, termination payments and residual value guarantees
- Allows for revaluation of leases below fair value (peppercorn leases)
- Provides ability to set interest rate for each lease contract
IFRS 16 Subsequent Measurement
- Automatically depreciates right of use asset over term of lease
- Automatically remeasures lease liability and right of use asset for completed lease events
- Supports ability to update interest rate at an agreement level
- Allows for other variations and lease modifications
- Adjusts right of use asset for any identified impairments
- Resets the lease accounting calculation for business combination or assignment events
IFRS 16 Reporting,
Journals & Disclosures
Generate draft balance sheet, profit and loss statements and cash flow statements, as well as disclosure reports and journal data that can be easily exported and uploaded to your general ledger.
Financial reporting of lease transactions will update as and when lease events are completed.
Detailed list of lease accounting transactions, customised to your financial reporting period and can be formatted to best fit your accounting requirements.
This shows the movement at a portfolio (or part portfolio) level in the lease liability and right of use asset, as well as a maturity analysis of expected undiscounted cash flows.
Summary of how lease transactions impact the lease liability and right of use asset balances on an agreement-by-agreement basis.
Financial Statements Report
Details how the profit and loss, balance sheet and cash flow statement accounts are impacted by the lease transactions during the period.