Simplify your compliance processes

The new accounting standards for leases (IFRS 16 and ASC 842) add a new level of complexity to the disclosure of financial data. The process can be cumbersome and requires valuable time from your finance professionals.

 

Automate compliant disclosure, computing and reporting operations

Axiante helps its customers to speed up disclosure procedures.
We will start by structuring together a process of collecting and validating information.
Then we will help you to convey this information in the most appropriate information system to automate calculation and reporting operations.

Lease Accounting: IFRS 16 and ASC 842

IFRS 16 is the accounting policy for leases issued by the International Accounting Standards Board (IASB) in 2016.
ASC 842 is the corresponding principle according to US Gaap.
IFRS 16 changes the way companies account for leases in their financial statements.
The standard will require companies to do the following:

Keep track of leases (buildings, cars, offices, equipment, etc.)
Make appropriate calculations
Generate appropriate newspaper adjustments to accurately reflect leases on their financial statements

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