IFRS 16 effect

Hi, is there any chance to implement IFRS16 effect in Manager?

  1. lease calculation
  2. ROU Asset
  3. ROU Accumulated deprecation
  4. Lease Liability
  5. Interest Interest
  6. Deferred Tax
  7. Deferred Liability to be required

Why is it not possible to create financial reports in accordance with IFRS 16 in Manager today?

There is no options to lease management for IFRS 16, www.nomosone.com is doing this.

Thanks

I believe we’ve had discussions here about IFRS16 before. It is possible to do the required transactions in Manager, although it would be not automated as presumably it is with a dedicated type of software.

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It’s an overkill and an overcomplication of something that’s supposed to be simple.

Initial measurement:
In an excel sheet, you calculate the present value of future lease payments and you create an asset and a liability at that value.

Subsequent measurement:
Asset is amortized like every other intangible. And this is covered by your normal depreciation / amortization process.

Liability bears interest and is paid like every other loan. And this covered by your normal financing procedures.

Adjustments, revisions and derecognition:
When lease is cancelled or revised, reverse the remaining asset and liability and charge the difference to a P&L account.

Unless you are a subleasing company, I don’t see the point of overcomplicating the system and lease processing.

To me at least, it seems like manager has more work to be done on assets and loans before even considering such niche feature as leases.

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