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RE-FX IFRS16: Consideration Start Date in Leased Contracts not earlier than first posting date

Jun 04, 2017 at 08:13 AM

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Start Consideration Date in Leased Contract cannot be before first posting date. IFRS16 accountring principle is to be adopted as of 01.2019. If the adoption method is Full Consideration then for comparability reasons company has to present its statements as of 01.2018. The question is that for old contracts started earlier than the 2018, i.e. in 2016 and still active on 2019 meaning that accounting postings exist earlier than 2018, system does not allow to enter a Start Consideration Date as of leased contract inception period in 2016. An error message occurs stating that "Consideration period cannot be earlier than fist posting date as of contract". But, in order to calculate the NPV of a contract a Start Consideration Date should start from contract's inception date.

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1 Answer

Ute Kupke Jun 23, 2017 at 01:56 PM
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Hi, please come back to us with more Information, preferably with screenshots, showing your runtime data on the contract ( contract starting date, end of contract...) and the consideration page as a Minimum.

It seems that you set your contract starting date later than the consideration date. Well, your contract has to be valid and active for a consideration.

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