AASB16 takes effect from the beginning of your new financial year. For most affected Australian organisations this will be 1 July 2019. From this date you will need to transform your operating leases cash flows and represent them as assets and liabilities on your balance sheet.
Break the complexity
The AASB16 standard is complex in its mathematical requirements to transform your cash flows. Calculating the assets and liabilities is both time consuming and complex. Every time the cash flows change, an adjustment to the schedules and consequent revaluation is required. For property leases, this is likely to be every year with CPI indexation.
Solve your AASB16 Puzzle
The Leases16 product takes your cash flows and conforms them into assets and liabilities as required under AASB16. We have made the software both easy to use and cost effective to meet the needs of SME’s and Charities in Australia.