Accounting issues
- identification of contracts falling within the scope of IFRS 16
- analysis of selected representative contracts and development of their accounting recognition in accordance with IFRS 16
- defining key assumptions and management judgments
- updated accounting policies
Determining the discount rate
- assessment in which cases the marginal lending rate should be applied
- support in creating a model for the marginal lending rate and documentation for individual types of leasing contracts
- estimation of the marginal lending rate taking into account: risk-free rate, risk margin, asset security
Collecting data
- identification of parameters required to record contracts in accordance with IFRS 16
- identification of data sources
- collecting data from contracts within the scope of IFRS 16
Ensuring the quality of data
- review of collected data to identify gaps in data
- working out a recovery plan to supplement / correct data
- data quality assessment in terms of completeness, accuracy, and consistency
- analytical procedures to assess the quality and integrity of the data
Implementation of the tool for IFRS 16 - myLease Manager
- implementation of a tool supporting calculations in accordance with IFRS 16
- required tool adaptation in the list of parameters
- designing a batch file for automatic data import / manual filling
- training and preparation workshops for users and tool administrators
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Design and implementation of processes
- process analysis (with emphasis on the accuracy and completeness of data) affecting data sources necessary for reporting in accordance with IFRS 16
- "walk-through" procedures in areas essential for collecting and maintaining data necessary for reporting in accordance with IFRS 16
- identification of weaknesses in processes and areas requiring standardization and optimization
- design and implementation of corrective actions in processes and implementation of appropriate internal controls
