Simplify the work with IFRS 16

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On January 1, 2019, a new standard was added for how companies should report their leases.

IFRS 16 applies to all groups that use IFRS, and the standard means that you now need to report all leases that are longer than 12 months and have a value of more than SEK 50,000 in your balance sheet. In other words, the standard means that your company’s leases should be accounted for in the same way, regardless of whether it is a financial lease or an operating lease.

A new way to account for leases

Before IFRS 16 was added almost three years ago, you could account for your company’s leases in different ways. Operating leases were recognized in the income statement and financial lease accounting in the balance sheet. But now all leasing needs to be accounted for in the same way as financial leasing; directly on your company’s balance sheet.

IFRS 16 was created to make the accounting of leases fairer and to make it easier to see all the assets and liabilities of a company. IFRS 16 makes it easier for outsiders to get a fair picture of a company and its key figures, and easier to compare companies’ financial statements with each other.

We streamline the work with IFRS 16

For some companies, the international standard has had a major impact, while others have been less affected. The new rules mean advanced calculations and the standard makes the work with accounting more demanding. IFRS 16 also places higher demands on your company’s accounting and on you who are responsible for it.

Boardeaser is a complete cloud-based tool for group consolidation and reporting. The tool automates your consolidation and reporting regardless of the financial system.

New function for the management of IFRS 16

To simplify your work with IFRS 16, we have developed a new function for this. You who use our tool will be able to add an extension specifically for the management of IFRS 16.

With the help of our new feature for IFRS 16, it will be easier to manage the requirements of the new standard. Your work will be more efficient and you can trust that the numbers you get in the tool are always correct as long as you have entered the right parameters. The only thing you need to do is enter your data, the rest is done automatically in the tool.

The function contributes, among other things, to higher security and better control of objects. You save a lot of time because large parts of the work are automated and at the same time you get good reports to your auditors, says Robin Skarphagen, Boardeaser.

Here you can test our tool for free for 30 days, completely without any requirements.

Work data-driven and modern with Boardeaser

Boardeaser is a cloud-based tool for corporate governance, reporting and consolidation.

In Boardeaser you can easily tailor your own reports and dashboards to your own unique needs.

Today, we consolidate the Group and design reports to the Board of Directors of one minute per company for most of our customers.

You always have access to current data and can quickly act if something unexpected happens. When you digitize, automate, and visualize your data, you get better reports and deeper insights into your business.

Want to know more about our new feature for IFRS 16?

Do you have questions or want to know more about consolidation, consolidated financial statements and IFRS 16? Contact us and we will get back to you as soon as we can! You can also fill out the form below.

Complicated and time-consuming group reporting?

Now you can test Boardeaser for 30 days for free!

Are you looking for a system that makes your reporting and consolidation faster and better?

With Boardeaser, you can automate the entire group reporting and save valuable time, while increasing quality.

During a demo, you will get, among other things:

  • tailored review of the platform’s features
  • answers to your questions and concerns from one of our experts
  • tips on how to work smarter (instead of harder)

Book a demo by filling out the form on the right. We will get back to you as soon as we can with suggestions for times.

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