Arrangement for FRS 116 leasing

Arrangement for FRS 116 leasing (aircrafts/ vessels/ trucks)

With effective from financial periods beginning 1 January 2019, FRS 116 Leases no longer makes a distinction between operating and finance lease to a lessee. With significant change in lessee accounting, this can pose major challenges on how lessees account for their future leases. This is a costly exercise, especially for logistics companies with large amount of lease contracts related to aircrafts, vessels and/or trucks.  

We help you to understand the implications and resolve challenges surrounding FRS 116:

  • The overall impact from adopting FRS116 accounting treatment on your company
  • Outsourcing of accounting functions to ensure smooth adoption process
  • Training of accounting staff

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