IFRS 16 will be applicable starting the 1st of January 2019 and is primarily oriented to companies that are lessees of any property and companies that already apply IFRS in their practice.
Columbus is presenting solution – IFRS 16 module, which can be incorporated into ERP. The main idea of Columbus IFRS 16 solution is to calculate present value of future lease payments and also calculate lease schedules, where contractual monthly payments are split into two parts – present value and interests amount. It also includes significant amount of features and enhancements, that are required by lessees in order to support lease agreement accounting according to IFRS, starting with it’s signing, schedule calculation and up to it’s natural ending or termination. Columbus IFRS 16 solution is based on Microsoft Dynamics NAV and tightly integrated with general ledger, fixed assets and other Microsoft Dynamics NAV modules.