From 1 January 2019, depending on where you are based, new lease accounting rules will be brought in under IFRS 16, AASB 16 or ASC 842. The IASB and FASB worked jointly on this project and have agreed on the new standard. This will mean significant changes to the way organisations report on leased assets, the main one being that all leased assets will have to be reported on the balance sheet and not just those applicable to finance leases.
RAM can offer an integrated fixed asset and lease accounting solution to help comply with these regulations. This includes the continuing IAS17, FAS13 and AASB 117 regulations that apply to lessors.