Thelma Welgemoed

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Over 100 Leases - You need a system

Posted by Thelma Welgemoed on Aug 23, 2018 3:16:32 PM

If you have over 100 leases the experts are saying that you will need a leasing system for compliance to IFRS when transitioning to IFRS 16.  The complexities involved in data collection and reporting are too complex to be done in Excel.

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Topics: asset leasing, asset finance, lease accounting software, new accounting standards

Will IFRS 16 change the lease decision?

Posted by Thelma Welgemoed on Aug 16, 2018 9:35:39 AM

Will the change in accounting under IFRS 16 change the way management view the decision to lease or buy and is there any value in still leasing assets?

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Topics: IFRS 16, Leases, accounting standard, Reporting changes

Financial statements, Quality or not?

Posted by Thelma Welgemoed on Aug 2, 2018 10:25:56 AM

In June 2018 the FMA issued a report “Improving financial statements”.  This was a follow up on the December 2014 Report: Quality Financial Reporting – How to Improve Financial Statements. The level of change in financial statement of the NZX50 varied substantially.  Entities considered focusing content on what was most important, changing the layout to improve clarity and removing irrelevant information. For the full report click here.

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Topics: IFRS 16, Leases, LOIS, transition approach

Not another IFRS implementation

Posted by Thelma Welgemoed on Jul 26, 2018 2:46:47 PM

Is the thought of another new standard upgrade starting to do your head in? You’ve just barely got through IFRS 15 and now you’re having to think IFRS 16: Leases too?

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Topics: IFRS 16, Leases, LOIS, transition approach