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.
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?
Quadrent is pleased to welcome Thelma Welgemoed to its well established and growing LOIS team in Auckland.
The telecommunication industry is thought to be amongst one of the most affected sectors. The IFRS16 new accounting standards are nearly here and there is little time to prepare, but we are here to help.
The new accounting standard for leases is happening and it will impact your balance sheet. Quadrent delivers a best-of-breed, Cloud-based lease management system that will cost-effectively manage both your transition to IFRS 16 and ongoing lease portfolio.
Check out the new look and feel of our relaunched our LOIS website!
Even though the official implementation date for IFRS16 lease accounting changes is 1st January 2019, there is a large amount of work involved in preparing the business and becoming compliant.
60% of the equipment we lease is IT related, but you may be surprised at some of the assets in the other 40%, like wine barrels!