IFRS16 Period reconciliation
There needs to be a report which reconciles total IFRS16 balance sheet amounts from one point in time (usually the start of OUR financial year) to another (usually most recent month-end), showing ALL movements on both the ROU asset and ROU liability. It must by definition include brought forward balances for leases that have expired DURING the period being reconciled.
David Waterworth
shared this idea
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Melanie Mirabella
commented
I think this is absolutely critical. It has made it incredibly hard to 'manually' reconcile / review the year end IFRS16 position when the opening balances can include movements depending on particular transactions. Ideally split by type of movements eg new loan movements, expansion/relocation/renewal, CPI movements, other adjustments.
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Des Cowley
commented
“As a business with approximately 50 property leases, to significantly reduce the manual time & effort to prepare the IFRS16 schedules, the ability to conduct high level reviews, and provide documentation to external auditors, there is significant importance to the availability of these summary reports. It would be great to have this prior to 30 June 2025.”