The new standard on leases, IFRS 16, entered into force on 1 January 2019 and has the biggest impact on balance sheets of lessees, since these entities – unlike before – have to recognise most leases as assets (right-of-use assets) and the related liabilities (lease liabilities) at the same time.
In order to comply with the requirements of IFRS 16, KPMG provides its clients with access to SmartLeaser, KPMG’s tested and fully functional lease accounting and documentation software.
Within the framework of this, we provide continuous access to the software, which can be combined with training and helpdesk functions, as well as – as required –, professional assistance, data validation, contract analysis and recording.
SmartLeaser is a pre-configured, platform-independent plug-and-play tool based on php and MySQL technology. It can be installed in any type of IT architecture, and only requires an internet browser to operate. Equipped with a robust calculation engine, yet a user-friendly interface, the system performs complex automated calculations, which includes determining the initial value of right-of-use assets and lease liabilities, calculating the impact of reassessments and modifications, and calculating the liability arising from decommissioning obligation, based on the amount and time of the expected payment for example. In addition to the pre-configured functions aligned with IFRS 16, the software can be extended with additional customised settings and content as required
If you have any lease accounting and recording tasks, please browse through our information at the bottom of the page for a more detailed description of our services, and then request a tailored quote. We aim to customise our services fully to your needs and make you a corresponding proposal.
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