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A web based product for Financial Consolidation and reporting
END-TO-END IFRS 16/IND AS 116 LEASE ADMINISTRATION AND ACCOUNTING SOFTWARE
The International Accounting Standards Board (IASB) issued IFRS 16 Leases, which requires lessees to recognise assets and liabilities for most leases. For lessors, there is little change to the existing accounting in IAS 17 Leases. The new standard will be effective for annual periods beginning on or after 1 January 2019.
Currently, Ministry of Corporate Affairs (MCA) in India has issued exposure draft on Ind AS 116 Leases. The final version of the new leasing standard is expected to be applicable to all Indian companies complying with Indian Accounting Standards (Ind AS) for annual periods beginning on or after 1 April 2019.
LeazeOn is an end-to-end lease administration and accounting software for IFRS 16 and Ind AS 116 compliance requirements. It provides automated solution for transition accounting, handling large volumes of leasing contracts, reporting and disclosure requirements.