With BDO Lead we developed a tool that helps you to fulfill the IFRS 16 requirements for leasing contracts. By the information provided on the following sites, we give you a comprehensive overview of the features of our solution. Furthermore, we offer you a free trial access.
The European Union has endorsed IFRS 16 Leases for application in Europe. This means that the change in lease accounting takes effect for financial years beginning on or after 1 January 2019. In future almost every kind of lease will be recognised in the balance sheet. This will put an end to the currently prevalent culture of structuring leases. Reporting entities will have to chart a new course and re-assess existing leases.
In addition to the substantive review, the transition will also have an organisational component that should not be underestimated. The recognition of all leases can only be ensured when an inventory of leases has been drawn up with the relevant parameters. The success of the project therefore depends to a great extent on how the dataset is compiled and the rules are applied. BDO LEAD helps you to manage the phases “Understanding” and “Analysis” efficiently and get to the application of the rules (transition) as quickly as possible. The use of (partially) automated solutions is particularly suitable for collecting and analysing mass data (e.g. contracts). The IT-based solution BDO LEAD, which has been developed by the IT and financial reporting experts in our Accounting Advisory Group, will give you focused support with the transition to IFRS 16 or ASC 842 and subsequent reporting. BDO LEAD enables the central storage and ongoing maintenance of leases.