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IFRS 16

IFRS 16 - Extensive implementation: No time to lose

With IFRS 16, the CFO must have full control over all of the company’s lease agreements. The time is about to run out for companies that are not in progress with the preparations for IFRS 16 – the new accounting standard for lease agreements. In most cases, the implementation creates significant business-related, practical and theoretical challenges for the CFO and their colleagues.

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The three biggest challenges with framework agreements

As a rule, seller and buyer both tend to be satisfied when they have signed a framework agreement. However, experience shows that only a small proportion of framework agreements end up being used in line with these people's intentions. 


IFRS 16

New regulation – lease agreements given the same status as investments

From 2016 onward, new IFRS rules mean that lease agreements will be given the same status as investments. This means that future payment liabilities must be recorded as liabilities on the balance sheet, and their utility value must be recorded as assets


An overview creates confidence and increases the sale price of a company

The road to a willing investor is paved with confidence – confidence that the investment will pay for itself. When costs are obscured, it's difficult for investors to see whether their purchase will be a success.


Making outsourcing more profitable

More and more companies are focusing on their core activities and outsourcing the rest. The explosive growth in the B2B market has resulted in running contracts that are signed by companies at every level, from the top to the bottom.


The four biggest pitfalls of notifications via outlook

Many finance departments do their best to keep control of contracts and agreements by using Excel or CRM to give them an overview of agreements, expiry dates and figures. They put calendar appointments in Outlook, with the notification feature set to remind them to renew or renegotiate contracts on a given date.


Viking Venture invests in House of Control

Viking Venture, one of the Nordic region's biggest venture funds, bought 55 per cent of the shares in House of Control Group AS in June 2015.


Add millions to your bottom line – remember the price index!

Many agreements and contracts with a term of 3–5 years or longer contain a clause about annual price adjustments in relation to the price index. 


Uncertain times for businesses – companies need to brace themselves

Uncertain times in Norway and abroad mean that many companies in competitive sectors will soon have to downsize considerably.

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