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While the IASB published IFRS 16 Leases in January 2016 with an effective date of 1st of January 2019 very few companies are ready or understand the full implications for their business of implementing the standard. In essence, the new…
IFRS 16 rules require that all material operating leases to be reported on the balance sheet from 1 January 2019 but according to a report from KPMG, only 3% of global companies have fully completed their lease accounting compliance projects.…
If you are reading this then you are probably aware of the new Lease Accounting Standard which came into effect on the 1st January 2019. Before I share my experiences to date I should probably qualify my experience – I…
The road to IFRS 16 implementation is long and complex. Almost all companies that use leases will need to change their reporting system to become compliant with the new standard. We have compiled these easy steps for implementation of a…