Automate calculations and tasks that are time-consuming, prone to error and difficult to audit.
Proactively tackle language, currency and other complexities to produce accurate financial information with ease.
Achieve company-wide visibility of lease data and collaboration on a single platform to drive up performance and productivity.
Is the stress of IFRS 16 compliance getting out of control?
IFRS 16 compliance looks simple until you factor in multiple leases, international lease portfolios and lease data constantly changing. Different levels of familiarity with the accounting standard can add to the complexity. Which of the following challenges recur every year?
- Don’t know where the data is located
- Decentralised processes – data is housed in various locations and systems
- Lease agreements aren’t electronic
- Cleansing of existing and collected data
- High volume of data fields
- Multiple currencies
- Constantly changing data
Take back control of your end of year accounting
Centralise data, automate calculations and simplify lease management workflows with MRI IFRS 16 software
AI powered data capture and centralisation
AI powered data capture and structuring to manage the complexities of lease portfolios across different sectors, currencies and languages.
Automated calculations and reporting
Real time calculations and re-calculations based on updates to a single data source and providing a permanent audit history.
Lease lifecycle management
Share data, get alerts and perform all the necessary lease accounting functions with simplified workflows and better collaboration.
Freedom from inconsistency, manual processes and missed events
How the software will help
Automatic recalculations and associated balance sheet adjustments when required.
Manage landlord incentives
Manage landlord incentives, impairments and dilapidations.
See new disclosure reports
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.
Integrate with ERP
API available to interface IFRS 16 journals and lease payments to your corporate ERP.
Create asset class matrix
Create an asset class matrix and define discount rates by asset type.
Group assets to one lease
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.
Manage transitional rules
Manage transitional rules and the entire life of the lease.
Handle the impact of IFRS 16 on your subleases.
years of industry experience
IFRS compliance without the drama
We get how complex IFRS 16 lease accounting can be. With multiple leases and a range of currencies and languages it can turn into a predictable year-end drama.
We’ve been creating lease accounting software for 30 years so when IFRS 16 arrived we knew we could give our clients the power to take it all in their stride.
Our comprehensive IFRS 16 software solution performs every accounting function in one place. Every scenario, however nuanced, can be handled with ease and efficiency.
What’s more the software can be integrated with your ERP so you can achieve complete compliance without an end of year drama.
3 steps to take control of your IFRS 16 compliance
1. Book a free no obligation demo
2. Implement MRI's lease accounting software
3. Achieve full compliance with ease
Frequently Asked Questions
What is IFRS 16?
What are the effective dates?
Why are there changes to lease accounting?
What is the impact of IFRS 16 on lease accounting?
What are the opportunities and benefits of adopting IFRS 16?
What are the main lease data challenges?
Why is departmental collaboration for IFRS 16 so important?
What are the advantages of using a specialist solution for lease accounting?
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