Context

IFRS 16 specifies how an IFRS reporter will recognise, measure, present and disclose leases. It applies to annual reporting periods beginning on or after 1 January 2019. For those with substantial off-balance sheet items the expected implications on financial statements and metrics include significant increase of assets and liabilities on balance sheets , with a potentially material impact on covenant calculations. The success of any lease accounting implementation is often dependent upon the quality and completeness of the lease data. For many organisations, the data collation stage is the most challenging due to the availability of critical lease data

Key words: IFRS16 Leased Assets Leasing Lease Accounting Financial Covenants Compliance Manual Review

Why CODEXO

CODEXO turns 100% of the content of all contracts into an exhaustive, accurate and traceable data system that users can easily access and query across to

  • Reduce uncertainty for better decision making
  • Slash cost time and uncertainty for agile in depth audit & control at scale, and
  • Integrate over existing infrastructure seamlessly for immediate data agility without replacing legacy systems

Get in touch and let us know how we can help

Sales

We’d love to talk about how we can work together

Help & Support

We are here to help with any questions you might have

General

For general queries, including opportunities