With that of the world’s leading company in sustainable solutions and renewable energy projects, at LOYIC we have now carried out 13 implementations to meet the requirements of the new international regulations that affect all lease contracts
The new IFRS 16 accounting standard came into effect on January 1, 2019 and affects all lease agreements. This was, however, the leaving date and not the end of projects. Certain changes in the interpretation of the law by the competent bodies can mean contracts which were in essence excluded, become integrated into the assessment of international regulations.
At LOYIC we are experts in the implementation of the SAP RE-FX module, which covers all the requirements of international regulations. Through the IFRS 16 implementation in SAP Real Estate, Acciona will provide functional and regulatory coverage to assessment and accounting under different accounting regulations (IFRS, USGAAP and LOCAL GAAPs) of all its lease agreements.
With that of Acciona, we have thus far carried out 13 IFRS 16 implementations in SAP RE-FX. We started the year with 9 projects with companies belonging to very varied sectors, such as retail, pharmaceutical, telecommunications and real estate. Additionally, over the months other companies have also been incorporated.
Acciona is a world leader in sustainable solutions and renewable energy projects, with a presence in more than 40 countries on 5 continents. The IBEX 35 company carries out its activity under a commitment to design a better planet. It contributes to the development of the communities in which it operates through clean energy, infrastructure, water and services.