Contract for Lease Management Advice and Accounting Software for IFRS16

Tender description

<p>Gateshead Council is looking to procure a lease management advice service and an accounting software which is compliant with the new IFRS16 accounting standard. The new standard requires the Council to account for leases under a single accounting model, bringing almost all leases &lsquo;on balance sheet&rsquo; and recognising a right of use asset and a lease liability. Advice and guidance would be required to manage the conversion of existing leases, as well as recording any new leases on an ongoing basis; additional to this any software must have the ability to produce the necessary figures and notes for inclusion in the annual statutory accounts. At present there is no central register of leases held within the Council. Each Service holds the relevant leases taken out in relation to their business processes.</p> Keywords: IFRS16, Lease Accounting Software, Lease Accounting Consultancy