IFRS 16 IN SAP REAL ESTATE

We have built up extensive experience in multiple sectors and leasing models, allowing us to carry out quick and effective implementations that cover all the requirements of the new international accounting regulations.

We are specialists in implementing the Flexible Real Estate Management (RE-FX) module, which covers all the requirements of IFRS 16. We have built up extensive experience in multiple leasing models and industries, allowing us to create solutions that cover all possible functional GAPs of the SAP standard solution.

 

Downloading data to office tools such as Excel and working on the information manually until you obtain the format required by IFRS 16 can be forgotten. At LOYIC we make everything already available to you in SAP. We help you save time; your hours can then be spent on what is truly important: decision making analysis which translates into economic benefits for your company.

The new accounting standard, which came into force on 1st January 2019, requires the recognition on the company balance sheet of an asset and a liability for the discounted value of the payments expected by the lease. From the lessee’s point of view, it completely changes the accounting of lease contracts.

For optimal implementation of IFRS16, we have:

 

  • Extensions of standard functionality, such as:
    • The reclassification of liabilities from long to short term.
    • Conciliation program for invoices with contracts.
    • Automatic creation of valuation ranges for periodic revaluations.
    • IFRS16 valuation reports in various currencies.
    • Etc.
  • Different references and system configuration templates and extensions to manage different real estate and personal property lease scenarios.
  • Adaptable programs for charge of contracts and their valuation rules.
  • Predefined charging templates in MS Excel.
  • Generic training manuals which are quickly adaptable to each client.