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Our IFRS 16 software helps you not only calculate and record lease agreements and prepare disclosures but also manage the decentralized recording and administration of contracts.
The complexity of the new IFRS 16 regulations often poses challenges for lease-intensive companies. Lucanet offers the solution! Our IFRS 16 lease software incorporates all the standard's requirements, ensuring rapid implementation. With GlobalLeaseCenter, you can get up and running in just a few days!
Comprehensive IFRS 16 implementation process
- Implementation
- Contract registration
- Calculation
- Publication
- Report preparation
Leasing software for new IFRS 16 requirements
IFRS 16 has fundamentally changed the accounting treatment of lease agreements for lessees.
The new standard requires lessees to recognize all lease agreements on the balance sheet, reflecting their right to use the asset and the associated payment obligations. In subsequent periods, depreciation and interest expense are recorded in the profit or loss statement. Exemptions apply to short-term leases (12 months or less) and low-value leases. IFRS 16 also includes various rules regarding remeasurement and modifications. Contract modifications and remeasurements are incorporated into the value of the right-of-use asset and the related liability, and—under certain circumstances—into the profit or loss statement. With our IFRS 16 software, you can seamlessly comply with all requirements.
