S/4HANA Cloud Finance - Accounting Standard - AAS 16 Lease

[SunnyZ]

Hi there,

Encountered a question regarding Lease Management. Apparently, S4HC Finance complies with IFRS and GAAP standards, but how about AAS 16, which also refers to AASB 16 Leases - Australian Accounting Standard Board that incorporate with IFRS 16, but has more Australian-specific contents. So does S4HC Finance complies with that? Or are there any possible workarounds to achieve that?

Thank you very much in advance!

Kind regards,

Sunny

[former_member200749 · Accepted solution]

Hello Sunny,

We do not claim to comply with AAS 16. The out of the box solution in S/4HANA Cloud supports the IFRS16/ASC842 lease accounting standards. We have found there are a large number of similarities between these standards and other localized standards but a detailed fit/gap analysis would need to be preformed to determine the scope coverage and even if a localization would be feasible. At this point, this localization is not planned.

Best regards,

Tom Anderson

Product Manager - SAP S/4HANA Contract and Lease Management