Accounting

July 10, 2026 Maria Allen 9:56 pm There was a time when spreadsheets felt like more than enough to handle lease accounting. A few tabs, some formulas, and a shared file were all it took to keep track of lease payments and balances. But as lease portfolios have grown and standards like IFRS 16 have […]

IFRS 16 changed the way leases are accounted for, and even experienced accountants find it challenging to get everything right. The standard is detailed, and small oversights can lead to inaccurate reporting or compliance issues down the line. Here are five of the most common mistakes accountants make with IFRS 16 compliance, along with practical

If your finance team is still tracking leases on spreadsheets, you are not alone. Many businesses continue to manage lease accounting manually, often because it has “always worked” or because switching systems feels like too much effort. But here is the truth: manual lease accounting is rarely as cheap as it looks. It hides costs

If you work in accounting or finance, IFRS 16 is one standard you cannot afford to misunderstand. Since it came into effect in January 2019, this lease accounting standard has changed the way businesses report their leases. The biggest shift? Most operating leases now show up on the balance sheet. But before you run any

Introduction If your finance team is still crunching IFRS 16 numbers inside a spreadsheet, you are not alone. Many businesses, from small companies to large enterprises, started their lease accounting journey with Excel. It felt familiar, flexible, and free. But here is the reality: IFRS 16 is not a simple standard. It involves complex calculations,

Managing leases used to be fairly simple, you signed a contract, made payments, and moved on. But since the International Accounting Standards Board introduced IFRS 16, everything changed. This accounting standard, which came into effect in January 2019, now requires businesses to recognize most leases directly on their balance sheets. For many finance teams, the

If you’ve ever sat in front of a spreadsheet trying to figure out lease liabilities, right-of-use assets, and discount rates all at once — you know how overwhelming IFRS 16 can feel. IFRS 16 (International Financial Reporting Standard 16) changed the way companies report leases. Since it came into effect in January 2019, businesses around

If you’ve ever signed a lease for office space, equipment, or vehicles on behalf of your company, you’ve already stepped into the world of IFRS 16, whether you realized it or not. For accountants, finance teams, and business owners, understanding this standard isn’t just a compliance checkbox. It changes how your entire balance sheet looks.

If your company is still working through its IFRS 16 transition or you’re reviewing past decisions one question comes up more than almost any other: Which transition method should we use? The short answer is: it depends on your leases, your reporting goals, and how much effort your team can absorb. But once you understand

If you’ve ever sat down to record an IFRS 16 lease and felt a little overwhelmed, you’re not alone. This standard changed the way businesses account for leases, and while the concept makes sense on paper, the actual journal entries trip up even experienced accountants every single day. The good news? Most of the errors