Property Manager - EBS (MOSC)

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IFRS16 Discount Rate Update after migration

in Property Manager - EBS (MOSC) Question

Good Day;

We have migrated around 3000 lease to Finance Lease as per IFRS16 regulation.

Our initial rate on migration was e.g 5%. Business wants to update the rate to 7% on migration.

I have updated the rate on the setup to 7% percent but the lease discount rate is still reflecting 5% on leases

How will we go about updating the leases to reflect the new rate of 7% for all the leases and adjust ROU and lease Liability accordingly?

Regards

Kevin Mazibuko

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