MFRS 16 (The Malaysian Financial Reporting Standards) is effective 1 January 2019.
This new Accounting Standard requires your once simple operating leases to be recognized with assets and liabilities in the balance sheet. If your Accountants or Accounts Executives are having problem complying with the Standard, you may share with them the attached template. This MFRS 16 Calculator Excel template translates your simple lease to a table with figures that your Accountants and Accounts Executives can use easily to comply with MFRS 16.
It can be used for IFRS 16 (International Financial Reporting Standard) too.
It calculates the values of right-of-use assets, lease liabilities, depreciation, interest expenses, cumulative interest, etc. It can be used to calculate leases with monthly, quarterly or annually installments. It also caters for leases with upfront payment of final installments.
It will definitely save you or your accounts staff a lot of time in drafting new excel tables for different leases.
You may download here. It is free.
|The MFRS 16 calculator. It translates simple leases to be complied with the IFRS 16 and MFRS 16.
Once you enter the Excel online, you may download the template as below.
|Graphical guide to download the MFRS 16 Calculator template to your own desktop from the online version.
Your feedback on the template is definitely welcome. If you find this is helpful, please share this page with your friends. Thank you.