fusion, the apps people Lease Accounting provides full lease management for Lessees.
Lease automation routines provide all the calculations required for compliance with IFRS 16 and other relevant accounting standards.
As of January 2019, the global standard for lease accounting changed.
IFRS 16 is a regulation created by the IASB (International Accounting
Standard Board) that requires the use of a single lessee accounting model.
The new standard makes it necessary for publicly listed companies to
include all leasing contracts with a term longer than 12 months on their
balance sheets. This ensures a lessee recognises their assets and liabilities
for all leases that are contracted to last over a year.
Due to the complexity and importance of complying with the new standards,
using IFRS 16 Lease Accounting Software is necessary to ensure all regulations
are met and reported in the most efficient way possible.
fusion, the apps people can deliver IFRS 16 Lease Accounting Software that is compliant
with all the necessary regulations, ensuring your business can comply to
LEASE ACCOUNTING MANAGEMENT IFRS 16
Why use fusion the apps people Lease Accounting?
- Full life cycle of a lease automated for lessors
- Automatic calculation of monthly schedule and GL postings
- Complies with IFRS 16 ASC842 accounting standards
- ROU asset details automatically maintained
- Intuitive Excel upload and download facilities
- Full mid-term adjustment facilities