IFRS 16 Leasing for Real Property Webinar (English)
Date/Time: Thursday June 30, 17:00 - 17:45 CET
Please join this webinar for the introduction of SAP’s new IFRS 16/FASB ASC842 for real property solution. Product and solution experts will be available to answer your question about functionality, availability and deliver a live product demo. This is a free session for SAP customers and partners. To participate in this webinar, please contact me at firstname.lastname@example.org to receive the webinar dial information.
If you have any colleagues who wish to participate in this webinar, please feel free to invite them and forward their email address to receive the meeting information.
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) recently announced the release of new accounting standards that define how organizations must account for leases. Essentially, these accounting standards stipulate most leases must be reported on each company’s balance sheet, increasing the risk of regulatory noncompliance and inaccurate statutory reporting. SAP Real Estate Management is used to optimize the portfolio of global assets and supports the regulatory compliance of these new accounting rules. This solution provides a single point of entry for collection, validation of lease contract data, performs valuation calculations and generates the financial postings derived from these calculations.
The Compelling Event
• New standard on leasing released by FASB and IASB
• Need to capitalize many corporate operating leases and record these lease obligations on the balance sheet as assets and liabilities
• Boosts the amount of debt on balance sheets by tens of billions of dollars
• Beside affected accounting, new standards will transform corporate business processes in many areas, including finance, procurement, tax, treasury, legal, operations, corporate real estate and HR
Who is Affected by the New Leasing Standards?
• Every IFRS/ US-GAAP reporting company leasing real estate or equipment will be impacted by the new standards Large companies with big property portfolio are affected most and need to react quickly to prepare.