The introduction of IFRS 16/PSAK 73 'Leases' represents a fundamental change to lease accounting. Understanding the financial impact of the new standard on your business can be a complex process, requiring detailed calculations and modelling - especially for companies with a large number of leases.
Recognising this need, PwC has developed an IFRS 16/PSAK 73 Lease Accounting Tool to support lessees who want an accurate, reliable and cost effective accounting solution. The tool offers a 'Day 1' impact assessment plus ongoing journal entries and outputs for business as usual financial reporting under the new standard.
40+ data points are required to manage each lease and undertake IFRS 16/PSAK 73 calculations.
Complex calculations are necessary where leases contain fluctuating periodic rentals, ongoing change in extension/termination options, different currencies, etc.
Managing lease data and their calculations, and tracking post-transition lease modifications becomes complex where more than 25 leases are held.
Basic spreadsheet models created for individual leases present a greater risk of input error, and require significantly more manual time and effort to aggregate balances, report consistently and perform audits or verifications.
Excel based, macro driven tool
Covers all three IFRS 16/PSAK 73 transition approaches
No requirement for storage space or annual subscription fees
Provides an all in one solution: acts as a lease register and a financial impact calculator
Produces IFRS 16/PSAK 73 journals
Customisable to your requirements
Capability to analyse and review IFRS 16/PSAK 73 data
Multiple entity and multiple currency enabled