SAP Lease Accounting
IFRS 16 & ASC 842
We specialize on the implementation of SAP Lease Accounting solutions to comply the IFRS 16 and ASC 842 accounting regulations
Comply with Lease Accounting Regulations
IFRS 16 is the lease accounting standard effective as of January 1st 2019 which changed the way organizations track and report their real estate and equipment leases. As a lessee, your organization will have to capitalize all lease agreements and report them in the balance sheet recognizing their present value as right-of-use assets along with their corresponding financial liability. As new reporting requirements rise, the need of collecting and managing data creates a new challenge demanding an integrated system support, changes on business processes, and new audit controls.
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SAP's Contract and Lease Management solution was released in 2016 enabling the functionality required to support all relevant leasing and valuation processes to comply with the accounting regulations. The solution is part of SAP Finance under the Flexible Real Estate module.
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Key features:
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Standardized leasing processes
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Real-time valuation of finance leases
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Unified platform for lease administrators and asset accountants
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Support both operating and finance leases
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Support both property and equipment leases
Reasons to implement with us
Our Experience
Solutions for
Equipment and Property Operating leases and Finance leases
Complied with
IFRS 16
FASB ASC 842
Local GAAP
IAS17
Our extensive experience in SAP Flexible Real Estate Management gave us the opportunity to become pioneers on the design, implementation, and deployment of the SAP Contract and Lease Management solution since its release back in 2016. Ever since, customers around the world have been engaging our services to help them get the solution up and running in their environments and become compliant with the new accounting regulations.
Industries
Energy
Railway
Retail
Telcom
Transportation
Customers in
Canada
Costa Rica
El Salvador
France
Guatemala
Honduras
Nicaragua
Peru
United States
Our Accelerators
Our journey across multiple leasing models and industries has given us the opportunity to create frameworks reducing our implementation time and effort.
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We provide:
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System configuration templates and built-in enhancements for managing special equipment and property lease scenarios.​
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Interface frameworks to integrate with external systems.
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Configurable load programs and LSMWs for master data, contract, valuation rules, and more.
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Predefined load templates in MS Excel and MS Access ready to be used.
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Generic training material for each relevant area.
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Generic user guides easy to adapt as required.
Our Delivery Models
Rapid Deployment Solution
Get your solution up and running in weeks instead of months with our Rapid Deployment solutions. Traditional implementations can be slow and costly, but our preconfigured solution package change that by simplifying the delivery approach and using best practices to deploy quickly, predictably, and affordably.
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“Ready to run”
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Fixed price consulting service
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Value in less than 90 days
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Existing landscape fit and flexibility to expand
Personalized Solutions
Get your solution up and running tailored to meet your business needs. Design, implement, enhance, and deploy powerful and unique solutions following industry best practices. Our expertise, tools and techniques helps our customers implement their solutions faster and at a lower cost than industry averages.