Don't lose your staff over a spreadsheet
It is common for entities within the mining and materials sector to lease a substantial number of big-ticket assets that are impacted by IFRS 16, such as excavators, conveyor equipment, underground crushers, storage warehouses, material handling equipment and trucks.
Under the IFRS 16 standard, many of these assets and liabilities need to be brought onto a lessee’s balance sheet. This PDF will provide you with information about the implications of IFRS 16 for the mining and materials industry. It will answer all your questions related to:
Main changes
Definition of a lease
The impacts on the mining and materials industry
Instant IFRS 16 / AASB 16 compliance, including forecasting, modifications and journals.
All your leases in one portfolio utilising global analytics.
Easily customisable templates let you record exactly the data that is important to your business.
Forecast different scenarios using numerous accounting standards (IAS 17, IFRS 16, AASB 16 and FASB ASC 842) to see how metrics change.
Stand alone or full API enabled integration allowing you to run your lease portfolio with ease.
Amortisation and depreciation schedules and full audit trails provide full data integrity and traceability.
Flexible lease management system accounts for change at any detail.
Full access control catering to large and small teams and organisational structures.
Our LOIS team are all CA qualified accountants. Therefore, Quadrent is the only company in the sector offering lease accounting expertise to support and provide advice for a lease accounting software solution. Coming from a foundation of accounting expertise rather than a stock standard SaaS rollout, LOIS is developed alongside our partner IRIS Innervision, and with years of leasing experience within the team, this is a product that truly understands leasing.
The partnership between IRIS Innervision and Quadrent has benefited some of the largest companies across Australia and New Zealand. These companies need strong automated and controlled accounting ledgers in an easy-to-use and efficient program.