What is IFRS 16?

IFRS 16 is an accounting standard introduced by the International Accounting Standards Board (IASB) and which came into force on 1. January 2019. It replaced the accounting standard IAS 17. But what is IFRS 16, and why does it exist? The accounting standard establishes principles for how companies should account for and report lease agreements … Read more

Calculations according to IFRS 16

IFRS 16 was introduced by the International Accounting Standards Board (IASB) in 2019. The accounting standard has led to significant changes in the way companies must account for their leases. The biggest change is that the companies that report according to IFRS must now balance most leases, which means accounting for more variables than in … Read more

Implementation of IFRS 16 before listing

So far in 2023, seven companies have been listed on the Oslo Stock Exchange, the last of which was Norconsult. On Euronext, which is part of the Oslo Stock Exchange, 55 companies have been listed on the stock exchange. All these businesses are required to account for leasing and rental agreements in the accounts according … Read more

IFRS 16 assessments and interpretation of leases raise many questions

IFRS 16 vurderinger

IFRS 16 assessments and interpretation of leases raise many questions IFRS 16 is a comprehensive accounting standard that requires a good overview and understanding of how lease contracts should be reflected in the accounts. Read some key questions and answers about IFRS 16 assessments and interpretation of lease agreements.

Difficult to choose IFRS 16 software?

Valg av IFRS 16-programvare

Leases and leasing agreements affect your balance sheet. But how do you calculate these effects with many contracts and constant changes? This task can be large, especially considering that the leasing agreements must be in accordance with IFRS 16. Written by Terje Glesaaen ShareControl IFRS 16 system efficiently handles all leasing agreements in accordance with … Read more

IFRS 16 calculation

IFRS 16 calculation

Written by Terje Glesaaen Determine the discount rate for the lease For IFRS 16, calculating the discount rate and determining the interest rate to be used when discounting leases to determine the lease liability is one of the most important assessments that a lessee must make. Calculation of the discount rate will affect both the … Read more

IFRS 16 leasing agreement – what is a leasing agreement

Written by Terje Glesaaen IFRS 16, which deals with rental contracts (leasing agreements), entails major changes for companies that rent operating assets. The accounting standard has been standard for listed companies since 2019. But to understand the accounting standard, it is important to know what a rental/leasing agreement is. What is a lease agreement? A … Read more

Experiences with the implementation of IFRS 16

Our experiences with IFRS 16 implementation This is an extract from an article written by Terje Glesaaen in collaboration with KPMG partner Serge Fjærvoll. It was published in the professional publication “Revisjon og regnskap” in December 2019. The first part is based on interviews with companies that have undergone a comprehensive implementation of IFRS 16 … Read more

IFRS 16 solution

Article by Ragnar Bryne All listed companies are from 1. January 2019 obliged to follow IFRS 16, and for this they need an IFRS 16 solution. ShareControl has developed a solution, integrated in Microsoft 365, which is available in ALSO Cloud Marketplace and Microsoft App Source. IFRS 16 replaced the previously applicable IAS 17 and … Read more

Why replace Excel with IFRS 16 software?

For the management of leasing agreements and reporting in accordance with IFRS 16, you will notice over time that Excel is not optimal and not completely reliable. In this article, you can read what opportunities you have with an IFRS 16 software, and why you should replace Excel with IFRS 16 software. Why replace Excel … Read more