EFRAG and IFRS 16 – defining the ‘public good’

The European Financial Reporting Advisory Group (EFRAG) has issued a positive statement on IFRS 16, the new lease accounting standard.

EFRAG and IFRS 16 – defining the ‘public good’

Apr 12, 2017

The European Financial Reporting Advisory Group (EFRAG) has issued a positive statement on IFRS 16, the new lease accounting standard.

Henk Uunk investigates the effects of the new lease accounting standards on a lessee’s Procurement Department

The International Financial Reporting Standard (IFRS) 16 new lease accounting standard is applicable from 1 January 2019 by listed companies, financial institutions and those entities that are group companies of listed or financial institutions or have voluntarily chosen to apply IFRS 16.

Henk Uunk investigates the effects of the new lease accounting standards on a lessee’s Procurement Department

Mar 14, 2017

The International Financial Reporting Standard (IFRS) 16 new lease accounting standard is applicable from 1 January 2019 by listed companies, financial institutions and those entities that are group companies of listed or financial institutions or have voluntarily chosen to apply IFRS 16.

Two-thirds of US large companies report new lease accounting standard “more complex than anticipated”

LeaseAccelerator has revealed that two-thirds of large companies are finding the new lease accounting standards more complex than anticipated.

Two-thirds of US large companies report new lease accounting standard “more complex than anticipated”

Feb 28, 2017

LeaseAccelerator has revealed that two-thirds of large companies are finding the new lease accounting standards more complex than anticipated.

 
 
 

Henk Uunk shows the new way forward in accounting for low value assets

With the release in January 2016 of IFRS 16 leases companies reporting in accordance with International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB) – and for the European Union (EU) after adoption of the IFRS – have more options to consider for reporting items with limited value.

Henk Uunk shows the new way forward in accounting for low value assets

Jan 23, 2017

With the release in January 2016 of IFRS 16 leases companies reporting in accordance with International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB) – and for the European Union (EU) after adoption of the IFRS – have more options to consider for reporting items with limited value.

Henk Uunk says now is the time for indexing low value leased assets

With the release in January 2016 of International Financial Reporting Standard (IFRS) 16 Leases, the International Accounting Standards Board (IASB) introduced a 'shortcut' method of accounting for assets with low value.

Henk Uunk says now is the time for indexing low value leased assets

Jan 04, 2017

With the release in January 2016 of International Financial Reporting Standard (IFRS) 16 Leases, the International Accounting Standards Board (IASB) introduced a 'shortcut' method of accounting for assets with low value.

Henk Uunk highlights what is correct, but not right, in the new lease accounting rules - and introduces an Anglo-Saxon dilemma

This article is intended to alert you, not to give you a comfortable feeling. Most people do not like to get an uncomfortable feeling and skip reading articles like this one.

Henk Uunk highlights what is correct, but not right, in the new lease accounting rules - and introduces an Anglo-Saxon dilemma

Nov 30, 2016

This article is intended to alert you, not to give you a comfortable feeling. Most people do not like to get an uncomfortable feeling and skip reading articles like this one.

Henk Uunk issues a wake-up call: the new lease accounting standard is closer than you think

International Financial Reporting Standard (IFRS) 16 Leases was issued in mid-January 2016 – May I ask what you have been doing since then? Were you informed by an eager auditor, a leasing association or did you only notice when extra funds were requested during the budget-2017 round-up?

Henk Uunk issues a wake-up call: the new lease accounting standard is closer than you think

Nov 14, 2016

International Financial Reporting Standard (IFRS) 16 Leases was issued in mid-January 2016 – May I ask what you have been doing since then? Were you informed by an eager auditor, a leasing association or did you only notice when extra funds were requested during the budget-2017 round-up?

European Commission to assess new leasing standard

The European Commission has started work on an assessment of whether the new international lease accounting standard, IFRS 16, will be conducive to the European public good, in a move which has been welcomed by Leaseurope, the trade body representing the European leasing and automotive rental industry.

European Commission to assess new leasing standard

Jun 23, 2016

The European Commission has started work on an assessment of whether the new international lease accounting standard, IFRS 16, will be conducive to the European public good, in a move which has been welcomed by Leaseurope, the trade body representing the European leasing and automotive rental industry.

Henk Uunk confronts the challenges for practitioners in relating the new lease accounting standards

Despite specific guidelines on disclosures in the International Financial Reporting Standard IFRS 16 Leases, quite a number of industry players are struggling how to tell the financial world about the disclosed information.

Henk Uunk confronts the challenges for practitioners in relating the new lease accounting standards

Sep 27, 2016

Despite specific guidelines on disclosures in the International Financial Reporting Standard IFRS 16 Leases, quite a number of industry players are struggling how to tell the financial world about the disclosed information.

UK Revenue & Customs says lease accounting tax changes need “complete overhaul” since leasing has changed significantly since the financial crisis

UK’s HM Revenue & Customs is considering whether to take advantage of the introduction of IFRS 16 in the UK and bring in a new regime for the tax treatment of leases of plant and machinery. It has launched a consultation on the changes to tax legislation that are necessary to enable implementation of the new international lease accounting standard.

UK Revenue & Customs says lease accounting tax changes need “complete overhaul” since leasing has changed significantly since the financial crisis

Aug 10, 2016

UK’s HM Revenue & Customs is considering whether to take advantage of the introduction of IFRS 16 in the UK and bring in a new regime for the tax treatment of leases of plant and machinery. It has launched a consultation on the changes to tax legislation that are necessary to enable implementation of the new international lease accounting standard.

Henk Uunk discovers another Anomalease – “Services as a Lease”

You may think that the above heading is incorrect and should read the other way around: Lease as a Service. Like any other type of services provided in the form of ‘Anything as a Service’. However, as I reported in my earlier article, this is yet another “anomalease”. In International Financial Reporting Standard (IFRS) 16 Leases, it is stated that “an entity shall account for each lease component within the contract as a lease, unless it opts, by class of underlying asset, not to separate non-lease components and instead account for all components together as a single lease component”.

Henk Uunk discovers another Anomalease – “Services as a Lease”

Jun 28, 2016

You may think that the above heading is incorrect and should read the other way around: Lease as a Service. Like any other type of services provided in the form of ‘Anything as a Service’. However, as I reported in my earlier article, this is yet another “anomalease”. In International Financial Reporting Standard (IFRS) 16 Leases, it is stated that “an entity shall account for each lease component within the contract as a lease, unless it opts, by class of underlying asset, not to separate non-lease components and instead account for all components together as a single lease component”.

Henk Uunk tells of the arrival of “Anomaleases”

Let’s fully embrace the new International Financial Reporting Standard (IFRS) 16 for leases! (Not because of any support (endorsement) forthcoming from the European commission (EC) - nor for scientific reasons) But rather for the simple reason that the new standard is so flawed that only applying it, as soon as possible, will result in a new standard Leases 3.0.

Henk Uunk tells of the arrival of “Anomaleases”

Jun 08, 2016

Let’s fully embrace the new International Financial Reporting Standard (IFRS) 16 for leases! (Not because of any support (endorsement) forthcoming from the European commission (EC) - nor for scientific reasons) But rather for the simple reason that the new standard is so flawed that only applying it, as soon as possible, will result in a new standard Leases 3.0.

Less than 10% of US finance corporates polled are now prepared to comply with new lease accounting changes

Only 9.8% of more than 5,400 financial and accounting professionals recently polled say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting standards.

Less than 10% of US finance corporates polled are now prepared to comply with new lease accounting changes

Jun 07, 2016

Only 9.8% of more than 5,400 financial and accounting professionals recently polled say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting standards.