IFRS 16 IFRS 16 and its Australian equivalent AASB 16 – is the new accounting standard coming into effect on 1st January 2019. Whatever the size or structure of your organisation you must be able to answer this one simple question. IFRS 16 – ARE WE READY? Bluleader has put together the following diagram including
Companies may consider maintaining the status quo, such as using typical spreadsheet accounting. Unfortunately, this solution is likely to be a painful one if your organisation has a large volume of leases (jn excess of 100) and lease complexity exists. Accounting firms do provide bolt-on or standalone solutions that can align internal systems.
IFRS 16 is here. And there’s some good news for SAP customers As you're no doubt aware, IFRS 16 Leases – and its Australian equivalent, AASB 16 - is here and comes into effect on 1 January 2019. Some companies are on top of it. - others are aware but unsure of their obligations.