An ultimate solution
IFRS 16 was introduced in 2016 and is effective for annual reporting periods beginning on or after January 1, 2019.
The objective of IFRS 16 is to report information that (a) faithfully represents lease transactions and (b) provides a basis for users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases.
To meet that objective, a lessee should recognize assets and liabilities arising from a leases.
For additional information:
https://www.ifrs.org/issued-standards/list-of-standards/ifrs-16-leases/
Technically it is difficult to perform a calculation in Excel
The excel calculation requires extensive knowledge and hard work on the part of the accountant.
Most software manufacturers offer service in SAAS format and hold the core of the data on their servers. And that’s in addition to maintenance costs since there are user access costs (terminal), installing drivers for databases and office software is required to enable report generation.
We combined microsoft excel flexibility to save data and to make reports
and use our algorithm to make complex calculations
