Mar 06, 2018
Companies face being "overwhelmed" with the requirements of the new IFRS 16 accounting standard unless they launch their preparation strategies now, industry experts have warned. The new standard, IFRS 16 – Leases, was issued by the International Accounting Standards Board (IASB) in 2016 and will become effective in less than a year, on January 1, 2019. The new rules require most operating leases to be recorded on balance sheets, whereas previously only finance leases were recognized. Duff & Phelps, the global valuation and corporate finance advisor, says that for several industries, such as retail, real estate, airline, transport and energy, this could well become one of the most material items on their balance sheets, with a large-scale impact on earnings before interest, taxes, depreciation and amortization (EBITDA).
Nov 10, 2017
While business leaders in the UK and Europe have stressed the importance of a smooth Brexit transition to protect the economies of both sides, there are signs that negotiators are struggling to find common ground on key issues. As the Brexit deadline of March 28, 2019 approaches, this special report looks in detail at progress from both sides of the negotiating table.
Apr 18, 2018
The UK’s Financial Conduct Authority is set to approve key changes to fees for regulated hire agreements that could save asset finance providers millions of pounds. In a recent update on its consultation on regulated fees for the next year, the FCA has proposed making changes that would see fees for regulated hire agreements treated in a similar way to regulated credit agreements. Currently, the FCA ‘levy’ on a £20,000 hire agreement might be £20 per year compared to £5 per year for a similar credit arrangement.