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WEBINAR: Taking the pain out of IFRS 16 compliance

Taking the pain out of IFRS 16 compliance

WEBINAR: Taking the pain out of IFRS 16 compliance

Date: 22 January 2019 @ 11am Register now

Speakers: Mark Cracknell ACA, Director, HAYNE Solutions and Martin Brown FCCA, CPIM, CSCP, HAYNE Solutions

Are you ready for IFRS 16?

Another year goes by, another change in accounting regulation for the Finance Team to deal with. After years of clever schemes to deliver ‘off-balance sheet’ financing, the authorities have issued IFRS 16 and ASC 842 standards focusing on transparency of lease obligations on the balance sheet.

Pre-configured solutions from IBM Planning Analytics and CCH Tagetik are designed to take the pain out of compliance.

Requirements of IFRS 16

IFRS 16 provides a single lessee accounting model and requires lessees to recognise assets and liabilities for all leases.  IFRS 16 brings more transparency to lease obligations by accounting for operating leases on the balance sheet.

In brief, setting IFRS standards for lease recognition, measurement, presentation and disclosure through:

  • Requiring a full lease inventory
  • Putting leases on the balance sheet
  • Operating lease expenses are now depreciation and interest expenses
  • Front loading lease expenses
  • Changing cash flow presentation
  • Including variable payment based on an index in the lease liabilities
  • Separating lease, non-lease needed and service contracts off the balance sheet

What will you learn on this webinar?

We will share our experiences of a number of IFRS 16 projects and identify a number of areas to concentrate on to make your project a success.

We’ll also provide some pointers to identifying the factors to consider when selecting the right solution for your organisation, from Excel to specific software vendors such as the IBM Planning Analytics IFRS 16 Solution Accelerator and CCH Tagetik Lease Accounting.

Who should attend?

CFOs, Group Financial Controllers, Fixed Asset Accountants, Tax Accountants, System Accountants, Procurement, Legal, Corporate Real Estate, Treasury, and anyone else who are seeking to meet compliance of IFRS 16.

Sectors impacted by the new IFRS 16 requirements include insurance companies, banks, energy, telecommunications, media, pharmaceuticals, construction, retail and distribution.

About the speakers

Mark Cracknell ACA is a qualified accountant who has spent a total of 30+ years working in finance. Martin Brown FCCA, CPIM, CSCP is a highly experienced consultant and is a Fellow Member of the Association of Chartered Certified Accountants

Agenda

  • Issues faced by Finance and various teams looking to meet compliance to the new IFRS 16
  • Our experiences of IFRS 16 projects so far
  • Technology overview: CCH Tagetik & IBM Planning Analytics
  • How HAYNE can help you achieve your target deadlines
  • Summary and Questions
IBM Gold Partner
CCH Tagetik
IFRS 16 systems ebook
Presentation covering IFRS 16 and CCH tagetik solution
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