This webinar will enable you to understand the recent implications to IFRS 16 due to the impacts of COVID-19, and why cash preservation and diversifying funding lines is absolutely critical. Download our webinar brochure or read on to understand more.
2019 saw the biggest change in leasing for three decades due to the transition to IFRS 16 and $32 trillion of assets coming onto corporate balance sheets. A large portion of corporates have underestimated the impact the changes have had.
The advent of COVID has magnified this effect in several ways:
- The pending mid-term changes / modifications to leases is a complex area of the new standard which will require specialist advice. This webinar will outline the IFRS 16 impact of the COVID-19 exemption.
- A greater focus on the requirements for liquidity and decisions that are now being made for CAPEX programs, and potential alternative funding options.
- With the move towards leasing, what considerations should be given to compliance and control and what potential cost savings are available?
Quadrent will be joined by John Askham from Ernst and Young and Kim Wiggins from Tassal. John is a Director in Financial Accounting Advisory Services in EY's Sydney office assisting a large number of public and private sector clients with the practical aspects of IFRS 16. Kim is the Finance Manager at Tassal and has successfully made the transition for their large leasing portfolio to account for IFRS 16 using Quadrent's Lease Accounting SaaS system - LOIS.
Quadrent is Australasia's leading and most trusted equipment financier and lease portfolio software provider. We enable you to deliver your technology solution via a leasing structure, and manage and report on your lease & asset portfolio for compliance with IFRS 16. Find out more about our services.
LOIS provides you with a consolidated view of all leases within your business structure and full IFRS 16 compliance, whether it be one entity or a global corporate. LOIS refers to Quadrent’s Lease Optimization Information System, which is a fully integrated portfolio and asset management tool for all your IFRS16 lease accounting compliance. We operate it under a master agreement. Plus, we’re the only supplier in Australasia. Read more about LOIS.
If you're interested in understanding more about IFRS 16 Compliance and LOIS, here are a couple of resources we can provide:
- Read more about IFRS 16 considerations and COVID19.
- Read about LOIS features and benefits and the clients that are already on board with us
- Explore the pros and cons of using spreadsheet applications such as Excel for the transition to IFRS 16 with this short whitepaper (15 minute read).
- Let our recent survey results from LOIS customers demonstrate the value of the product (3 minute read)
- Understand the pros and cons of leasing business assets with our whitepaper (15 minute read).