IFRS 16 done simply and reliably

The software for lease accounting in accordance with IFRS 16

Is your company heavily involved in leasing and facing the challenge of becoming IFRS 16 compliant? With LucaNet, this process could hardly be easier.

While the complexity of the new rules does make many things more difficult, our software is ready to handle just about everything in helping you implement all the necessary changes. Whether in restructuring or evaluating your lease contracts, implementing the constant monitoring IFRS 16 requires, or reconciling operating leases in line with this standard:  LucaNet takes the stress out of making your lease accounting IFRS 16 compliant.

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IFRS 16 - Lease Accounting

Have we piqued your interest in our software for IFRS 16-compliant lease accounting? If so, be sure to download the further information we offer on the subject.

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What you need in a tool for IFRS 16

Our software for reliable IFRS 16 accounting is sure to be the right tool for you thanks to all the functions it offers, which include:

  • transparent reconciliation of operating leases in line with IFRS 16
  • calculation of lease contracts using the modified retrospective and full retrospective methods
  • automated remeasurements of lease liability
  • use of a standardized system, no add-on solutions required
  • simple and intuitive user interface
  • flexible ways to display contracts
video software demonstration ifrs 16

An intelligent solution to IFRS 16 accounting

How LucaNet can benefit you

Efficiency

Greater efficiency means having more time for other things. This is precisely what LucaNet's solution for lease accounting can give you in determining your right-of-use assets and lease liabilities. Based on all the relevant contract data, our leasing tool carries out the necessary calculations each month and shows you the trends in right-of-use assets and lease liabilities over the entire lease term in question.

Traceability

It's time to take control. Thanks to the clearly arranged formats in which the LucaNet leasing solution can display your many lease contracts, you’ll be able to achieve greater transparency. Clear structuring of your contracts will lead to improved traceability, as well. Here, LucaNet enables you to break down all your IFRS 16 accounts based on freely definable criteria (an asset class, for example).

Consistency

Why not make your life easier? The IFRS 16 solution from LucaNet gives you a simple, intuitive, and standardized way to enter your lease contracts, which will help you ensure consistency. You can start by importing your existing contracts into LucaNet using an Excel template.

Only LucaNet simplifies complexity

ifrs 2016 data import

With the help of our Excel template, you can enter a large number of lease contracts in LucaNet in a single import.

ifrs 2016 liabilities

Trends in right-of-use assets and lease liabilities are displayed in separate tables for each contract over its entire term.

ifrs 2016 elimination

The reconciliation function enables you to automatically zero out lease expenses from the source system.

ifrs 2016 and asc 842 breakdown

By making a breakdown of all the accounts generated by the tool by asset class, you can determine the disclosures required directly within LucaNet.

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Learn even more about our software for reliable IFRS 16 accounting

Want to see our IFRS 16 tool in action? Are you also interested in finding out where and how LucaNet software can offer you even more support? We’d be pleased to offer you a live, personalized demo with no obligation – either at your offices or in an online presentation.

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More about IFRS 16