Adopting IFRS 16 – What Is The Best Option For You?
Let’s compare different transition options that you have when adopting IFRS 16 in your company. Let’s see what they are, which one is easier and which one has the smallest impact on your equity.
013: How to account for rentals depending on inflation and future sales?
What if your lease payments depend on future sales, inflation, use of the asset, interest rate or other things – what should you do? How should you account for them under IFRS 16? Find out here!
008: What is the lease term of cancellable property rental contracts under IFRS 16?
What is the lease term under IFRS 16? How to account for definite or indefinite lease term with 2-months notice period? Learn here.
The Best of IFRSbox 2016
My all dear readers, without YOU there would be no IFRSbox! Let me thank you for your continuous support throughout the year 2016, especially for: Asking me so many good questions in the comments below my articles, Sharing my articles with your friends via social…
IFRS 16 Leases – Summary
In January 2016, the new standard about lease accounting IFRS 16 was issued and it introduced a few major changes. The most significant are: New definition of the lease can cause that some contracts previously treated as “service contracts” can now be treated as “lease…
IFRS 16 Leases vs. IAS 17 Leases: How the lease accounting changed
In January 2016, IASB issued another important and long-discussed standard: IFRS 16 Leases that will replace IAS 17. Ever since then I receive lots of e-mails asking me to sum up what’s new. OK, so here you go. In this article, you’ll learn about the…
IAS 17 Leases
IAS 17 Leases deals with the accounting and financial reporting of the very common business transaction—lease. Leases are the great example of “off-balance sheet” financing if not recorded properly in the financial statements. In the past, many companies used to hide their finance lease liabilities and…
How to Calculate Interest Rate Implicit in the Lease
When you deal with leases in accordance with standard IAS 17 Leases, FAS 13 or any other applicable standard, you know for sure that the lease should be measured, whether initially or subsequently, using interest rate implicit in the lease in the first instance. In…
Top Excel Formulas for IFRS
This is another useful tip I would like to give you. With these formulas, you can really speed up your IFRS accounting process, especially when dealing with sophisticated calculations. So let’s start. Top Financial Formula #1: IRR What is IRR? IRR formula calculates Internal Rate of Return for…
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