Athlon has implemented improvements that make IFRS 16 data available via the MyAthlon portal on the first day of each month, in every country that enjoys Athlon services. With this change, the data becomes even more relevant and can be directly used in the closing process for each financial period.
We have also substantially improved the interface which makes the Finance page on the MyAthlon portal more user-friendly and flexible.
Athlon’s IFRS 16 solution
Athlon proactively offers support to customers to help them solve challenges they face when applying the IFRS 16 standard. The Athlon IFRS 16 solution has been available since 2018. It provides access to the necessary data for the required IFRS 16 calculations. Through a continuous feedback cycle, we gain insights and keep improving our solution to provide a better user experience.
IFRS 16 in a nutshell
IFRS stands for International Financial Reporting Standards. This is a financial standard for yearly reports of businesses. The IFRS 16 regulation has been effective since 2019. This means that operational leasing agreements have to be stated on balance sheets. This eliminates the administrative difference between financial leasing and operational leasing.
Athlon has fully automated this process for its customers. They can filter, sort and download their IFRS 16 data from the first day of every month. Via one interactive table, they can immediately download all data. The data can be used immediately for the financial period closing process.
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The Athlon office in Almere, the Netherlands, accommodates over 600 colleagues – in non-corona times that is. Additionally, the location has a large parking garage where ex-lease cars are parked until they are sold at auctions or through the Athlon Car Outlet, where we sell ex-lease cars to the public.