Accounting

If you’re still reconciling client bank statements by hand, or paying for a premium data-capture tool you don’t fully need, you’re leaving hours on the table every single week. Open banking has quietly become the cheapest lever an accounting practice has for cutting admin time, but only if you pick the right tool for your […]

Managing small business finances can feel overwhelming, especially when accounting rules change. For a long time, small business owners could keep many equipment and property leases off their balance sheets. You simply recorded monthly lease payments as a regular operating expense on your profit and loss statement. That changed with the arrival of IFRS 16

Lease accounting used to be simple. Companies tracked rental contracts on basic spreadsheets, recorded monthly payments, and moved on. That all changed when the International Accounting Standards Board (IASB) introduced IFRS 16. Under this standard, nearly every lease must appear on your balance sheet as a Right-of-Use (ROU) asset and a corresponding lease liability. Suddenly,

Imagine spending weeks preparing your company’s financial balance sheets, only to find out your numbers are completely wrong. For many finance teams, this nightmare is a daily reality. When the new standards like ASC 842 and IFRS 16 took effect, they changed the rules of the game. Companies could no longer hide operating leases in

Most finance teams assume their ERP system handles everything related to financial reporting, including leases. In reality, ERP systems were largely built before IFRS 16 existed, and many were never designed to manage the kind of ongoing lease calculations the standard requires. When a business relies on its ERP alone, or bolts on a separate

Subleasing is common in many businesses, whether it involves renting out unused office space, passing on equipment no longer needed, or restructuring operations after downsizing. But when a business becomes both a lessee and a lessor within the same arrangement, IFRS 16 introduces a layer of complexity that is easy to get wrong if you

Getting the numbers right on your balance sheet is only part of IFRS 16 compliance. The standard also sets out detailed disclosure requirements, and this is an area many businesses underestimate until an auditor or investor starts asking pointed questions. Disclosures matter because they give the reader of your financial statements the context behind the

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