LS2 is sophisticated lease management and accounting software, which has IFRS 16 at the heart of its core capability. The system can help organisations with adoption of IFRS 16 by providing lease portfolio management, accounting compliance and a broad range of functionality and reports to fully address transition and ongoing reporting.
The technology provides a cost and time efficient web-based central database for all contracts that contain a lease and other associated contracts. It makes all the required calculations to efficiently manage the adoption of IFRS 16 and provides the ability to track judgements and elections taken, reflecting these in the disclosure outputs.
LS2 – Available directly from LeaseSolution
- Unique combination of lease management and lease accounting
- Central UK cloud-based system
- All leasing details in one place for multi-user access
- Ability to store copies of contracts
- Detailed lease management capabilities
- Lease accountancy under IAS 17 and IFRS 16
- IFRS 16 transition reports
- Ability to quickly apply IFRS electives
- Coded to automatically deal with the mysteries of IFRS 16 - all you have to do is find your leases
- Specifically tailored for UK Local Authorities IFRS 16 reporting and disclosures