This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.
On Tuesday 21st March Qube Global Software hosted a webinar discussing the impact of IFRS 16 and how software can manage adding property leases to the balance sheet.
The webinar was attended by people from a wide range of industries, and included a lively Q&A session in which experts Steven Fox and Garreth Cosgrave provided advice on the subject. If you missed the session you can view the recording online now.
Qube Global Software’s IFRS 16 solution, Horizon, provides the ability to:
- Model the best adoption method in advance of 1st Jan 2019 (full retrospective and modified retrospective)
- Provide IFRS 16 calculations on a periodic basis from the standard lease data held within the system. This includes a lease payable wizard that provides a step by step guide to capturing lease data for newly signed leases. Including dedicated fields for dilapidation provisions, costs and incentives for signing the lease.
- Modelling the most advantages terms of new leases before they are signed. i.e. the impact a specific term will have on the corporate balance sheet.
- Automatically notify finance of updates to the probability of lease clauses being actioned e.g. break clause, or extensions
Managing IFRS 16 within the real estate system ensures that the data is captured at source and requires no double entry of data to a third-party system. It also guarantees visibility between the property and finance departments for newly signed leases, ones currently under negotiation and rent reviews etc. Therefore, when a new lease is signed, it will not be missed from the next periods calculations.