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A Roll Forward report tracks the changes in the ROU Asset and Lease Liability balances based on the lease activities that occur in a lease’s life cycle.
As part of the disclosure requirements, it is intended to supplement the amounts recorded in the financial statements so that financial statement users can better understand the nature of an entity’s leasing activities from the standpoint of both lessees and lessors. In addition, this report is often a common audit request.
Why does it matter?
In addition to compliance requirements for IFRS16 standards, the process of preparing a roll forward report can be challenging due to tracking the transactions that occur during a lease lifecycle and accurately calculating the beginning and ending balances for ROU Assets and Lease Liabilities.
Listed below are just a few benefits of streamlining the generation of a Roll Forward report and automating the data calculations:
- Saves time and reduces the risk of manual errors, enhancing report accuracy.
- Simplifies global operations by meeting international and U.S. financial reporting requirements.
- Makes audit preparation easier and more efficient, reducing stress and workload.
How does Occupier help?
We provide a robust, audit ready report that summarizes the roll forward balances for ROU Assets and Lease Liabilities and include the supporting journal entry transactions from your leases within the report. Occupier tracks and summarizes lease life cycle activities such as newly acquired leases or modifications to existing leases, impairments, terminations, or any type of gain/loss activity. Additionally, we provide roll forward reporting by lease and you can easily export the report to excel. For a step-by-step user guide on how to generate a Roll Forward Report, please refer to our comprehensive tutorial: "How to Generate a Roll Forward Report."