News from Nomos One
We’re excited to bring you some useful resources as part of our monthly newsletter. We hope that these resources help support your lease management and lease accounting workflows.
Recent Blog: Top 10 Common Mistakes in IFRS 16 Reporting
From misjudging lease terms to using outdated discount rates, even the smallest oversight can have significant financial consequences. One of our recent blog posts outlines ten common mistakes we see in IFRS 16 reporting and discusses how to prevent them. While some of the prevention tips are to use Nomos One, the blog also features actionable, practical advice to help keep your business’ IFRS 16 balances accurate.
Recommended Articles
Record Important Rent Information
Information recorded on the Rent & Payment Page of the Agreement creation process directly impacts your IFRS 16 Reports. Importantly, it determines when and how your rent is paid and the effect of any additional payments. If you're setting up a new Agreement, check out our article to learn about each field on the page.
How to Surrender an Agreement
If you need to terminate your Agreement earlier than a scheduled exit point, you can record this in Nomos One using a surrender event. To learn how to do this, including how to record an associated penalty fee, check out our article. The article also includes a video guide for you to follow.
Nomos One does not provide or purport to provide any accounting, financial, tax, legal or any professional advice, nor does Nomos One purport to offer a financial product or service. Nomos One is not responsible or liable for any claim, loss, damage, costs or expenses resulting from your use of or reliance on these resource materials. It is your responsibility to obtain accounting, financial, legal and taxation advice to ensure your use of the Nomos One system meets your individual requirements.