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Frequent lease changes—such as extensions, terminations, and rent adjustments—require continuous monitoring and recalculations, adding further complexity to compliance and reporting.
Many companies relying on manual processes using tools like Excel, making IFRS 16 compliance increasingly complex and difficult as businesses grow. Implementing and integrating lease accounting solutions with existing systems can be challenging.
Determining whether a contract contains a lease and classifying it correctly under IFRS 16 can be complex and can oftentimes lead to inaccuracies. Organizations need to assess all contracts to identify embedded leases and ensure compliance.
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Lease Accounting by the numbers
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customers confirm fast and easy implementation
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Benefits
Our intuitive, all-in-one software delivers everything you need in a single, streamlined platform—eliminating the hassle of multiple windows and spreadsheets.
Fully functional from the onset, with no additional customizations enabling fast time to value for your team.
Seamlessly integrates with all major ERP and consolidation systems, ensuring smooth data flow for further processing.
Automatically adapts to contract changes to provide clear and concise IFRS 16 reporting.
Enjoy a structured, intuitive process with reliable validations and minimal manual effort.
Simplified initial data entry through an easy-to-use import function.
Prioritize security by incorporating industry-leading, robust measures that safeguard your data, ensuring compliance with industry standards and giving you peace of mind.
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By using recognized industry standards, Lucanet ensures the protection of company, customer and partner information.
Related resources
White paper
Leasing remains an important corporate financing instrument. However, the depiction of leasing contracts in accordance with IFRS 16 can be described as rather complex. The standard results in (almost) all leases being recognized in the lessee’s balance sheet. Read our white paper to find out more about the most important aspects and challenges.
