WEBINAR: Taking the pain out of IFRS 16 compliance with CCH TagetikRebecca Dagostino
Date: 22 January 2019 @ 11am Register now
Speakers: Mark Cracknell, Director, HAYNE Solutions and Martin Brown, 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 CCH Tagetik address IFRS 15, 16 and 17 – each one 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 demonstrate how CCH Tagetik Lease Accounting can provide you with a solution to meet compliance for IFRS 16, whilst removing the onerous administrative burden to maintain complex records.
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.
- Issues faced by Finance and various teams looking to meet compliance to the new IFRS 16
- Technology demonstration: CCH Tagetik
- How HAYNE can help you achieve your target deadlines
- Summary and Questions