Participants learned how to use SAP Real Estate Management to meet the new IFRS 16 and US GAAP ASC 842 regulatory standards, with a powerful impact on leasing management
On 26th June in the SAP offices in Madrid, Javier Alonso, CEO of LOYIC along with David García Morelli, gave a course entitled ‘IFRS & US GAAP Leasing with SAP Real Estate Management’. Its main objectives were to teach participants the new regulations in the management of lease contracts under the IFRS 16 and US GAAP ASC 842 standards, and to detail the use of SAP Real Estate Management for an optimal management of these lease agreements in complying with the standards. The course also included the most important configuration adjustments and other areas of interest.
The main points covered during the course, in which numerous SAP ERP and SAP S/4HANA consultants participated, were:
- Introduction to the IFRS y US GAAP requirements: principal requirements, timings, impact…
- Overview of the leasing solution of SAP Real Estate Management.
- Introduction to the lease.
- Contract valuation procedures and the execution of valuation postings.
- Changes in the contract and the corresponding impact on the valuation of the contract.
- General description of important configurations for lease contracts and the valuation of contracts.
At LOYIC we actively collaborate with SAP - we even suggest new functionalities when they are repeatedly requested from our clients - and we give official training in Real Estate Management (RE-FX).
We are a SAP consultant specialised in the development of customised solutions for wealth management. Within our service range, SAP tools stand out for very specific areas of the business process, which are all based on the Flexible Real Estate Management (RE-FX) version of SAP.
Javier Alonso has a professional career of more than 17 years offering technological consultancy services highly specialised in lease management projects.