UNIORG contract management (leasing) according to IFRS 16
With the publication of International Financial Standard (IFRS) 16, the International Accounting Standard Board (IASB) has put new rules for international accounting into effect. These rules describe the recognition, measurement, presentation and disclosure requirements for leases in companies and are intended to provide lessees and lessors with useful information for making decisions on leases. The new standard was published for the first time in January 2016 and its application is mandatory for fiscal years beginning on or after January 1, 2019. For companies, this means that all existing leases must be reviewed and revalued and previously undocumented data must be recorded for accounting purposes.
In order to fully and sustainably meet the new IFRS 16 requirements, UNIORG has developed a practical and user-friendly contract management system that enables comprehensive management of leasing contracts in SAP standard. After entering the relevant contract data, the corresponding assets can be created and activated in SAP Asset Accounting. The subsequent periodic postings for leasing liabilities and interest are automatically determined by the application and can be centrally controlled and posted. In addition, all stored information is available as an ALV list display and as a download.
The advantages at a glance
- Simple entry and administration of leasing contracts
- Interface to SAP Asset Accounting
- Automatic determination and control of periodic FI postings
- Reporting on contracts and investments
- Automatic monitoring of contract terms and notice periods
- Complete integration into the SAP system
- Use of SAP standard functionalities
- Independent of Service Packs and Enhancement Packages
- No complex implementation
- Implementation using SAP Transport
- Support of all releases as of SAP ERP 6.0
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