Ensure compliance using software specially designed to manage your real estate and equipment leases

By 2019, IFRS 16 and Topic 842 will require businesses to record leases on the balance sheet. These standards apply to land, buildings and asset leases over a year in length.


Our solutions have always worked to enable compliance with core accounting and financial reporting regulations. Our latest offerings include enhanced functionality for the new lease accounting standards.


Our solution can be implemented as a standalone IFRS 16 calculation tool or be delivered as part of an integrated lease management and accounting system.


However, it could be that your accounting jurisdiction does not require this, for instance FRS/UK GAAP – but rest assured we have the requirements for this covered also.

Advantages

  • Automatic recalculations and associated balance sheet adjustments when required

  • Manage landlord incentives, impairments and dilapidations

  • Manage transitional rules and the entire life of the lease.

  • New disclosure reports providing details of right of use assets, interest, amortisation, cash flow and weighted terms

  • Get notification alerts when critical information changes

  • Scenario modelling of lease terms to limit the impact of new leases on the balance sheet

  • API available to interface IFRS 16 journals and lease payments to your corporate ERP

  • Discount rates defined by asset class

  • Multiple assets grouped to a single lease contract when required

  • Set materiality thresholds with the ability to exclude low value leases

  • Manage decision making process for break clauses and extensions

  • Streamline your working practices and eradicate duplication of data and effort.

Before implementing the software, our month-end reports took over a day. Now, it takes less than half an hour.
Kurt Mather | Property Director - HSS Hire

Find out more

If you would like to find out more about our IFRS 16 software, please get in touch today.