Nextera Accord modules
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Nextera Accord has six modules. They follow the order the standard imposes: decide the framework, classify the contract, measure both sides of the entry, keep them correct as things change, and disclose.
If any term here is unfamiliar, read Lease accounting concepts first — this page assumes it.
PSAK 116 / IFRS 16
Section titled “PSAK 116 / IFRS 16”Apply the lease accounting standard end to end — recognition, measurement and disclosure — to every lease.
Purpose. The framework layer: which standard applies, which policy elections you have made, and the settings every other module inherits. This is where your reporting framework (IFRS 16, PSAK 116 or both for a dual-reporting group) and your exemption elections live.
Depends on. Nothing — it is the foundation, and it must be configured before a lease can be measured meaningfully.
Watch for. PSAK 116 and PSAK 73 are the same standard renumbered. If your policy documentation still says PSAK 73, it is out of date in numbering only.
Lease classification
Section titled “Lease classification”Assess each contract for a lease under the standard and classify it, including short-term and low-value exemptions.
Purpose. The gate every contract passes through. Is this contract, or does it contain, a lease? If so, does a recognition exemption apply? The output determines whether the contract proceeds to measurement or is expensed.
Depends on. PSAK 116 / IFRS 16 for the policy elections.
Watch for. Two things. First, the three tests — identified asset, substantially all economic benefits, right to direct use — are contract-by-contract judgements, so the conclusion and its reasoning must be evidenced, not just the answer. Second, the low-value exemption is assessed on the asset’s value when new, in absolute terms, not on materiality to your financial statements.
Right-of-use assets
Section titled “Right-of-use assets”Recognise and depreciate right-of-use assets, with the schedule maintained automatically over the term.
Purpose. The asset side of the entry: initial recognition from the liability plus prepayments, initial direct costs and restoration costs, less incentives — then depreciation over the term.
Depends on. Lease liabilities, since the ROU asset is measured from the liability at commencement.
Watch for. Depreciation normally runs over the shorter of useful life and lease term, but over the useful life where ownership transfers or a purchase option is reasonably certain to be exercised. IAS 36 impairment applies to ROU assets like any other asset.
Lease liabilities
Section titled “Lease liabilities”Measure lease liabilities at present value and unwind interest over the lease term.
Purpose. The liability side: discounting the lease payments not yet paid, then unwinding interest at amortised cost as payments are made.
Depends on. Lease classification for scope; PSAK 116 / IFRS 16 for the discount-rate policy.
Watch for. What is included in the payments. Index- or rate-linked variable payments are included using the index at commencement; usage- or sales-linked variable payments are excluded and expensed as incurred. This is one of the most common measurement errors, and it is worth checking on every turnover-linked contract.
Remeasurement
Section titled “Remeasurement”Handle modifications, reassessments and indexation with automatic remeasurement of asset and liability.
Purpose. Keeping the numbers correct as reality changes. Every extension reassessment, indexation, residual-value-guarantee change and contract modification runs through here.
Depends on. Right-of-use assets and Lease liabilities.
Watch for. Whether the discount rate is revised depends on the trigger — a lease-term or purchase-option reassessment revises it; an index or rate change does not. This is the module that consumes the month at scale, and it is the reason a spreadsheet stops working somewhere between fifty and a few hundred leases. Note also that a modification adding the right to use an additional asset at a commensurate price is a separate lease, not a remeasurement.
Disclosure reporting
Section titled “Disclosure reporting”Generate the disclosure schedules the standard requires — maturities, movements and expense — ready for audit.
Purpose. Producing the required note from the same data as the journals: depreciation by class of underlying asset, interest expense, short-term and low-value expense, variable payments, sublease income, total cash outflow, additions, and the maturity analysis of lease liabilities.
Depends on. Everything above.
Watch for. The disclosure list is effectively the specification for your data model. A lease register that cannot split by class of underlying asset cannot produce the note, no matter how correct its arithmetic is — which is why disclosure requirements, not journals, should drive how lease data is structured.