Companies are facing a major challenge to implement and comply with the new lease accounting standards of IFRS 16. Financial statement managers have to extract an extensive amount of lease data, spend long periods of time to read and analyze obligations and provisions and modify it according to the latest standards.
Smooth and efficient transition is only possible through a proper understanding of the complex transition components and simplifying the implementation process. Additionally, you must leverage lease accounting software and lease management software offering great value and solution.
https://www.yardicorporateleasemanager.com/blog/7-steps-for-smooth-efficient-transition-to-new-lease-accounting-standard-ifrs-16/
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