Benefits of IFRS 16 & Centralized Lease Accounting

The benefits of IFRS 16 goes beyond transparency and compliance. In this article, we will expand on the advantages that IFRS 16 software support can provide for organizations that have already implemented IFRS 16 and organizations that consider transitioning to IFRS standards in their financial reporting. Centralizing lease management under IFRS 16 brings a structured … Read more

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

ShareControl IFRS 16 vs Excel – here are the benefits

IFRS 16 Excel

Do you still use Microsoft Excel or similar spreadsheets to manage your leases in accordance with IFRS 16? Do you still use Microsoft Excel or similar spreadsheets to manage your leases in accordance with IFRS 16? IFRS 16 solution vs Excel With a specialized IFRS 16 solution such as ShareControl IFRS 16, you don’t just … Read more

IFRS 16 – Length of the lease period

IFRS 16 Leieperiode

IFRS 16, which entered into force from 1. januar 2019, introduced a comprehensive accounting standard for leases that replaced the previous standard IAS 17. One of the central aspects of IFRS 16 is the determination of the length of the lease period, which has significant implications for the companies’ accounting and financial reporting. IFRS 16 … Read more

Difficult to choose IFRS 16 software?

Valg av IFRS 16-programvare

Accounting for leases in accordance with IFRS 16 can be a complex task for companies that handle many leases with constant changes. In this article, you can read more about how IFRS 16 differs from previous accounting standards and what challenges and changes it entails for businesses. Furthermore, we want to show how an IFRS … 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