How can BDO help

Many entities are currently grappling with the implementation of IFRS 16, and also starting to contemplate ongoing management of their lease portfolio.

Our clients are telling us that they want the best possible lease accounting outcomes for their business, and they want the associated process to be easy and cost-effective. In short, our clients want the best lease accounting outcome without any hassle.

We have responded to these requests from our clients, by creating BDO Lease Management Services where our clients outsource their lease accounting problems to our experienced IFRS experts.

We know and understand the intricacies of IFRS 16, AND we have an amazing technology solution (BDO Lead) to perform all the required calculations.

What is our BDO Lease Management Services?

BDO Lease Management Services will help reduce costs and improve efficiencies by allowing BDO IFRS Advisory to manage all your leases in your lease portfolio and provide you with the information you need to account for your leases under IFRS 16.

This approach will be most beneficial when transitioning to IFRS 16 – no other software solution can offer the IFRS insights that our IFRS advisors can offer you during the critical phases of your IFRS 16 implementation project.

Our Lease Management Services include:

Training your staff on the application of IFRS 16

Guidance to assist your Project Team to gather the necessary outstanding lease accounting data

Critical analysis to assist you with your policy choices before date of adoption

Upload of your data into BDO Lead

Providing monthly accounting journals and audit information in the format and at the level that you need in your organisation (Consolidated, Company, Profit Centre and/or Cost Centre).

What is the implementation process with BDO Lease Management Services?

STEP 1: TRAINING
BDO provides training on how to capture the lease information in a standard Excel spreadsheet.
STEP 2: INPUTTING OF DATA
Client populates the Excel spreadsheet with all the lease data. (BDO can assist with contract analysis).
STEP 3: READINESS CHECK
BDO to review and assess the accuracy and completeness of the population of the lease data in the Excel spreadsheet.
STEP 4: UPLOADING OF DATA
BDO imports the lease data from the Excel spreadsheet into the BDO Lead software.
STEP 5: IMPACT ASSESSMENT
Using the imported data, BDO prepares an impact assessment for each requested Transitional Method.
STEP 6: THE DECISION
Client to select the appropriate transitional method and confirm the accuracy and completeness of the lease data, including assessments.
STEP 7: THE JOURNALS
BDO provides the transitional journals to input on date of initial application date based on selected transitional method.
STEP 8: REQUIRED INFORMATION
Client to confirm the required monthly information and frequency of correspondence with BDO.

What are the benefits of BDO Lease Management Service?

The benefits to you:

Centralised access to the BDO Lead technology Solution

No need to invest in or acquire the software

Lower cost and no complex IT implementation projects

Access to our IFRS Advisory specialists throughout

Audit trail provided for you and your auditor.

Please contact us or any of our friendly and professional IFRS experts to discuss how we can help you to take the pain out of lease accounting and address your IFRS 16 related business problems.