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.
Mar 14, 2018
UK fleets are being warned to review their policies to prepare for the impact of new European fuel consumption and emissions tests. The Worldwide Harmonised Light Vehicle Test Procedure (WLTP) replaces the outgoing New European Driving Cycle (NEDC) and is designed to provide results that are much closer to real-world figures. Experts believe it will result in official CO2 figures rising by about 30% for some cars, with fuel economy declining. While this benefits fleets because it provides a clearer picture of real-world vehicle running costs, it will also impact tax bills.