What counts as a lease under FRS 102 Section 20?
Under FRS 102 Section 20, a lease requires three things: an identified asset, the right to substantially all economic benefits, and the right to...
LOIS was created in 2017 in response to the International Accounting Standards Board’s introduction of IFRS 16, which came into effect on 1 January 2019.
LOIS was created in response to the International Accounting Standards Board's introduction to IFRS16.
IFRS 16 came into effect.
LOIS expanded into emerging markets across Africa and the Middle East.
We grew our development capability and introduced specialised Property and Fleet modules, addressing the two biggest asset classes for IFRS 16 (property by value, fleet by volume), to bring finance and property teams closer together.
LOIS became a standalone company, enabling a sharper focus on product innovation and customer success while retaining the same trusted leadership team and CA-qualified expertise.
FRS 102 came into effect in the United Kingdom and the Republic of Ireland. With proven IFRS 16 transition experience, audit-ready reporting, and CA-qualified expertise, LOIS was ready to help finance, property, and fleet teams simplify compliance from day one.
LOIS is trusted by leading organisations around the world. Our mission remains the same: to simplify lease accounting, streamline compliance, and empower organisations to make smarter financial decisions.
Under FRS 102 Section 20, a lease requires three things: an identified asset, the right to substantially all economic benefits, and the right to...
Automation, AI, and agentic AI are different. This plain-English guide explains what finance teams need to know.
FRS 102 is the principal financial reporting standard for the UK and Republic of Ireland. This plain-English guide covers who it applies to, what the...