Solving IFRS 16 complexities

May 2, 2017 / kShuttle

The IFRS 16 accounting standard applies to all results published on or after January 1, 2019. In order to provide comparables, its impact on 2017 and 2018 results will also need to be presented, forcing organizations to act as early as this year. 

What’s in IFRS 16? It requires companies to consider lease contracts of significant value and of a duration greater than 12 months, as if they were acquisitions for which the underlying asset’s value and corresponding debt needs to be evaluated. Companies will have to choose rates, probable asset utilization duration, impairment tests, and consider carefully the sub-lease and lease-back cases. Information thereby collected need to be traceable and auditable, and will have to be certified by auditors. 

k-IFRS16 from kShuttle, with it’s Excel-like interface, solves simply a complex issue. 

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