IFRS 16 compliance
The time to be compliant is now. IFRS 16 requires that you report on all leases which are not considered short-term or low-value. Visual Lease streamlines complex processes related to achieving regulatory compliance under the IASB, as well as FASB and GASB.
Connect our lease accounting software with flexible APIs
Lease-specific details such as payment dates, options, rent steps, CPI escalations, TI reimbursements, can change from one reporting period to another. Visual Lease alerts you to changes that could impact your financials so you can stay compliant.
Additional IFRS 16 Resources
IFRS 16 Frequently Asked Questions
IFRS 16 is a new lease accounting standard that was released by the International Accounting Standards Board (IASB). IFRS 16 changes the way companies account for leases in their financial statements. This new standard requires all leases to be considered finance leases.
IFRS 16 is effective for periods beginning on or after January 1, 2019.
IFRS 16 applies to all organizations that are already reporting under the International Financial Reporting Standards.
Functional currency support
Visual Lease offers compliance with the accounting standards in every currency conversion scenario. The functional currency feature provides supporting evidence for audit and compliance purposes, stores both direct and reciprocal spot and average rates and automates the conversion process for output to the Lease Accounting Standard and Disclosure reports.