LS2 Demonstration – Your IFRS 16 problems solved for free until April 2022.
Link Group are pleased to invite you to a demonstration of Link’s LS2 lease accounting and portfolio management software. LS2 has been specially designed for the UK public sector to ensure IFRS 16 compliance.
To help you prepare for transition, LS2 is currently being offered with an initial free period of use until March 2022 as part of a 3-year subscription.
Although, IFRS 16 has been deferred three times, the challenge for Public Sector organisations to comply with IFRS 16 has not diminished, and with just 5 months until the 2022 closedown, the clock is ticking for what is a major project. The deferrals are likely to lead to increased scrutiny from auditors, requiring a thorough impact assessment of IFRS 16 as part of the 2022 financial closedown, and the transition as part of the 2023 closedown.
The complexities of the IFRS 16 standard can make the transition difficult and Link have developed LS2 to minimise the work involved and streamline IFRS 16 projects. Our LS2 System has been designed to fully comply with the CIPFA Code and provides lease portfolio management, accounting compliance and a broad range of functionality and reports to support the transition to IFRS 16. Other key features include: -
- Central system to practically manage your organisation’s leases and accounting requirements
- Ability to export your template disclosure notes (populated with figures)
- Run reports on a month by month basis to help for cash-flow modelling
- Run reports on an individual asset basis, not just by contract
- Audit trail of changes
- Simulate the impact of using discount rates
- IFRS 16 lease transition impact reports
- Ability to quickly apply IFRS 16 electives
- Lease accountancy under IAS 17 and IFRS 16