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Lease Accounting

From 1 January 2019 companies in Singapore will need to implement FRS 116 (equivalent to IFRS 16) for Lease Accounting – which sets out new principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract.

Key changes introduced by FRS 116 are

Lease AccountingOur approach for implementation is as follows:

lease Accounting SignaporeAdapting and implementing new accounting standards is complex, time-consuming and expensive. With OutsourcingWise, you be assured for compliant implementation of the new standard.

If you are a business an accounting firm which wants assistance with implementation of FRS 116, please contact us on info@outsourcingwise.com.

Special Offer:

Get accounting & disclosure solutions for your leases under FRS 116 Leases for upto 10 lease contracts at S$ 1,000 only.