Based on our own research as well as feedback from leading accounting experts, we believe our IFRS 16 solution is the best in Europe. Along with the Complete Control functionality it helps save time for CFOs, reduce risks associated with contract management and make financial management and compliance easier.
- Calculation of balance sheet values
- Calculation of depreciation
- Quick and easy reassessment of changes in the agreement that have financial consequences
- Registration of extension options
- Automatically created notes report
- Automatic CPI adjustment
- Automatic currency adjustment (daily)
- Complete control of all contracts in the company, including residual obligations
- Notice at the end of the contract, so that you can terminate or renegotiate
- Several different formats for reporting - also at chart of accounts level
- Easy import / export to Excel
- Fast and precise budgeting of leasing contract values
What are your answers to these IFRS 16 questions?
1. What functionality does the company’s ERP system have with regard to IFRS 16?
2. Have you resolved the practical challenges involved in collating all the data about the company’s leases?
3. Do you have a suitable central solution for administering the leases?
4. Is this a platform where you can manage and monitor the leases in a commercially effective manner?
5. Do you have a solution that registers all the relevant financial data required to perform the new accounting calculations?
6. How will you arrive at the estimates that will form the basis for calculating the lease obligations and the value of the right of use? What data and methods will you use? What discount rate will you apply?
7. Will the company’s loan terms be changed when the lease obligations are recognised in the balance sheet?
8. Similarly, how will this affect bonus and remuneration schemes, acquisition decisions and the company’s ability to pay dividends?