Nextera Accord

A finance platform built for PSAK 116 / IFRS 16 lease accounting, done right.

Nextera Accord is currently focused on lease accounting: classifying contracts under the standard, measuring right-of-use assets and lease liabilities, handling remeasurement, and producing the disclosure schedules an audit will ask for.

Who this is for

• Finance and accounting teams preparing the numbers
• Controllers and the CFO office owning the policy and the close
• External auditors who need to trace a disclosure back to a signed contract

What Nextera Accord covers

IFRS 16 removed the operating/finance distinction for lessees, which means every lease now produces an asset and a liability that have to be measured, unwound, depreciated and — the part that consumes the month — remeasured whenever the contract or the assumptions change.

• The standard, end to end. Recognition, measurement and disclosure applied to every lease, under IFRS 16 or its Indonesian adoption PSAK 116.
• Classification. Assessing whether each contract is or contains a lease, and applying the short-term and low-value recognition exemptions as policy elections.
• Right-of-use assets. Recognising them and maintaining the depreciation schedule automatically over the term.
• Lease liabilities. Measuring at present value and unwinding interest across the term.
• Remeasurement. Modifications, reassessments and indexation, with the asset and liability adjusted automatically — and, critically, with the right answer about whether the discount rate changes.
• Disclosure reporting. The maturity analysis, movements and expense schedules the standard requires, produced from the same data as the journals.

If PSAK 116, PSAK 73 and IFRS 16 sound like three different standards, start at Lease accounting concepts — they are not.

Who Nextera builds this for

Nextera positions Accord for finance and accounting teams, controllers and the CFO office, and external auditors.

Where it runs

Nextera Accord is a hosted web application, normally at accord.nextera.id. See Getting access.

Where to go next

• Lease accounting concepts (PSAK 116 / IFRS 16) — what counts as a lease, how the liability and right-of-use asset are measured, when the discount rate is revised, and what has to be disclosed. The most substantial page in this section.
• Preparing for your first close in Nextera Accord — the policy decisions, contract data and people to line up first.
• Nextera Accord modules — what each module is for.

Note

Nothing on these pages is accounting advice. Your classification conclusions, discount-rate methodology and disclosure positions are yours to determine with your auditor.