LEASE, LEASING MANAGEMENT SOLUTION

An easy-to-use tool to respond to complex standards, Standard IFRS16, IAS17 Standard, CRC N°99-02 Regulation
Slider

Facilitate your IFRS16 transition

The new IFRS 16 standard “leasing contracts” has been in effect since January 2019.
  • Centralization of your contracts for all your subsidiaries
  • Contract monitoring by events, and full traceability of records
  • Compliance with the all the standard requirements (asset valuation, restatements…)
  • Succeed in this delicate transition with the right solution and an expert support

Avantages

Contract library to browse easily in your contracts
Contract monitoring by events
Dynamic calculation of the loans and right of use
Multi-currency contract management
Multidimensional analysis of the impacts on the consolidated financial statements
Generation of entries to accounting and/or financial consolidation systems

Contract library

  • Centralization of your contracts
  • Follow up of the maturity dates from a calendar
  • Management of alerts from a dashboard
  • Mass historical data recovery through an Excel import file

Contract follow up

  • Follow up the contracts by events
  • Valuation and generation of the depreciation schedule by assets
  • Split of the assets by components
  • Dynamic payment schedule and loan depreciation schedule
  • Management of the contracts in foreign currencies and implementation of the conversion rates

Analysis and restitutions

  • Multi-dimensional analysis of impacts in the consolidated accounts
  • Ad hoc analyses creation and sharing
  • Macro vision by aggregates
  • Micro vision by firm, by contract and by asset
  • Dynamic dashboards with MS Power BI
  • Generation of book entries to upstream systems (ERP) and downstream systems (SAP FC, HFM…)


Have a
demonstration

FAQ in relation to IFRS 16 (Lease contracts)

+ - What is the relation between IAS 17 and IFRS 16?

IFRS 16 replaces IAS 17. The International Accounting Standards Board (IASB) judges that its implementation will provide greater transparency by providing a clearer view of the assets and liabilities of companies. The vast majority of lease commitments are not currently included in the balance sheet of companies.

+ - What is the effective date of the new IFRS 16 standard?

The IASB issued the new accounting standard “IFRS 16 – Leases” on January 13th, 2016. It will come into effect on January 1st, 2019.

+ - What are the benefits of IFRS 16?

The application of this standard will provide:
• More transparency on rentals in the financial statements of companies
• A more accurate representation of company assets and liabilities
• A better distinction between companies that use leasing to employ an assets and borrowers to acquire assets

No change in the amount of cash transferred between the parties to the lease.
IFRS 16 therefore has no impact on the total amount of cash flows recognized. On the other hand, there will be consequences on the presentation of cash flows for previously simple (off-balance sheet) leases.

Under IFRS 16, cash flows from operations will be reduced with a corresponding increase in financing flows compared to amounts in accordance with IAS 17. By applying IAS 17, companies report cash flows from simple lease as operating flows. By applying IFRS 16, repayments of lease liabilities will be included in financing flows. Interest may be classified as financing activities in accordance with IFRS
Source www.focusifrs.com

+ - How to keep up to date on IFRS 16 - Leases?

justo eget massa id fringilla efficitur. leo. Lorem