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