IFRS 16 compliance with confidence.
THE TRUSTED SOLUTION FOR IFRS 16 COMPLIANCE
We’ve worked with chartered accountants who live and breathe IFRS 16 to design a world class IFRS 16 compliant module that’s been tested against over 1,000 scenarios provided by global accounting firms. Auditors around the globe introduce Nomos One to their clients, and you’ll soon see why – when it comes to IFRS 16 we have you covered.
IFRS 16 TRANSITION MODULE
Our world class IFRS 16 module supports all three transition approaches.
We make it easy for you to select one of the modified approaches on a lease-by-lease basis.
Our intuitive wizard guides you through the transition process, so you can be assured you haven’t overlooked any requirements of the standard.
- Walk through the transition requirements
- Discount rates (at transition & commencement)
- Ability to select one of the modified approaches on a lease-by-lease basis
- Generates reports that compare financial impacts under all transition methods
IFRS 16 lease accounting guides
IFRS 16 CALCULATIONS
Easily save discount rates, rent increases, future payments, make-good payments and incentives against your portfolio. Create asset classes and apply bulk settings across agreements with similar characteristics. Automatically calculate right-of-use assets and lease liability across your portfolio.
IFRS 16 Initial Measurement
- Automatically calculates PVFMLP
- Anticipated number of renewals
- Provisions for purchase options, termination
payments & residual value guarantees
- Short term & low value exemptions
- Revaluation of leases below fair value (eg, peppercorn leases)
- Provisions for restoration costs (eg, make good provisions)
- Allows capitalisation of direct costs
IFRS 16 Subsequent Measurement
- Automatically revalued lease liability & ROU asset
- Supports all subsequent ROU measurement options
- Cost less depreciation
- Fair Value under IAS 16 & IAS 40
- Asset note carried at fair value (eg, peppercorn leases)
- Variation and modification accounting (changes in assumptions)
ASX 20 listed financial services company
“With Nomos One, we have great visibility and insight across our lease portfolio. The system is highly intuitive and has saved our team significant time, money and stress.
We were very impressed with the level of professionalism and attention to detail throughout the onboarding and review process. The Nomos One team took time to understand exactly how our portfolio was structured, what information was important to capture and then ensured the system was tailored to suit our needs.
Even within the first couple of months using Nomos One, the system identified major cost saving opportunities for our business which paid for the system many times over. The highly automated system has helped us reduce our risk profile and work more efficiently.”
IFRS 16 REPORTING, JOURNALS & DISCLOSURES
Generate draft balance sheets, depreciation and interest schedules and journals that can be easily exported and uploaded to your general ledger.
Save assumptions and calculations at different points-in-time, and easily compare periods against each other.
Create graphs and interactive reports that make complex calculations easy for your stakeholders to understand.
- Journal entries
- Complete history of a lease
- Custom period reporting including monthly and 4-4-5 reporting
- Draft balance sheets
- Sub-leased agreements that are classified as finance leases
- Breakout non-lease components
- Variable lease payments capture
- Business combinations
EXPLORE OUR OTHER FEATURES AND SERVICES
Event tracking, automated reminders, custom fields and reports, a personalised dashboard and compliance wizard will transform the way you manage your portfolio.
Unlimited storage and custom fields and reports make Nomos One the perfect place to store all of your lease agreements and general contracts.
Our team of experts will extract, analyse, enter and review all of your information. Then we’ll structure your portfolio so it works the way you need it to.