IFRS 16 compliance
As your leases evolve, it’s hard to keep up. Visual Lease makes it easy to handle the complexity of lease contracts, projects and workflows. And our lease accounting and administration software provides auditability through every change, so you never have to question your data.
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
What is IFRS 16?
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.
When was the IFRS 16 effective date?
IFRS 16 was effective for periods beginning on or after January 1, 2019.
Who does IFRS 16 apply to?
IFRS 16 applies to all organizations that are already reporting under the International Financial Reporting Standards.
Software that goes beyond compliance
Visual Lease helps you maximize the financial and operational performance of your lease portfolio while ensuring continued compliance throughout Day 2.
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.