Tools
Are you familiar with calculations under IFRS 16 – Leases?
Deloitte’s comprehensive and market-established dLease tool can help you calculate the impact of leasing contracts
Effective as of 1 January 2019, the International Accounting Standard IFRS 16 has significantly altered the way companies account for leases and other leasing contracts requiring modification of related accounting systems and processes. Deloitte Czech Republic has developed a tool that enables companies to calculate the reporting impacts in exact agreement with IFRS 16 while keeping lease accounting processes transparent and straightforward within a single platform. Whether you are a company transitioning to IFRS or have a non-compliant IFRS 16 solution, dLease is the right choice for you.
dLease: Key Functions for Standard-Compliant Reporting
At the moment, several solutions on the market aim to help with the reporting of leased assets. They are often available in the Excel spreadsheet format with all its advantages as well as limitations.
The dLease tool combines Deloitte’s accounting experience and enthusiasm for modern technologies – it is smart, fast, and user-friendly.
The Deloitte dLease tool offers all the key features for IFRS 16 lease recognition and several other competitive advantages making it a truly comprehensive tool. Developed by Deloitte Czech Republic, the tool is fully localised in both Czech and English, with subsequent user support in both languages.
8 Basic dLease Functions
- dLease enables efficient management of users with different defined roles and the possibility to create multiple entities within a single environment.
- dLease includes a bulk import function from an Excel template directly into the tool.
- dLease can calculate the majority of contract variations within the scope of IFRS 16, including, for example, various payment frequencies or rent-free periods, extension, termination, or purchase options, contracts dependent on rate or index movements, contracts in different currencies, etc.
- Contracts may be further modified or renegotiated in dLease in compliance with IFRS 16 by selecting an appropriate scenario. The dLease tool directs users to enter only relevant data required for each modification or restatement.
- dLease offers an intuitive, simple, and user-friendly working environment.
- dLease provides standardised overviews with all relevant data for accounting and reporting under IFRS. The report can be generated on a contract-by-contract basis, facilitating its verification during an audit.
- dLease also serves as a planning and simulation tool to calculate the impact on financial statements or financial ratios such as debt, return on assets, etc.
- dLease supports all three transition methods proposed by IFRS 16.
dLease is just the first step – we can also help you with other areas, namely with:
- Support in identifying and classifying contracts, i.e. whether a contract falls within the scope of IFRS 16
- Verification of contract details in a contract
- database registry
- Verification of lease contract data
- Support in determining the discount rate
- Reviewing accounting directives and the impact of
- IFRS 16 on the financial statements
- Analysis of necessary adjustments to processes
- and internal control system
- Staff training on IFRS 16
Biggest Pitfalls of IFRS 16 Addressing the Recognition of Leased Assets
Effective as of 1 January 2019, IFRS 16 has significantly altered accounting for leased assets on the lessee side. Companies now have to deal with more data-intensive work, the need to determine which of their contracts fall within the scope of IFRS 16, as well as, for example, staff training. What are the most common challenges posed to lessees by the new standard? Is there a way to make the whole accounting process easier?
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