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IFRS 16 Real Property Leasing with SAP Real Estate Management
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On January 13, 2016, after more than 10 years, the leasing standard for accounting under IFRS has been redrafted.
Up until now, lease and rent payments were only displayed outside of the balance sheet. This is no longer possible. With the new standard, the right of use and leasing liabilities of most rental agreements must be included in the balance sheet. Instead of the rental payments, it is now necessary to book interest and depreciation as expenses.
This new regulation is a major challenge for many SAP users. Firstly, only a minority of companies maintains databases with all lease contracts, or has the relevant processes in place to maintain such databases. Furthermore, there are hardly any IT solutions available that make the necessary calculations and bookings for creating the balance sheet items.
This free event is offered in German and in English.
German version Webinar IFRS 16 @ SAP | English version Webinar IFRS 16 @ SAP |
SAP is planning to add the necessary functionalities for mapping the new regulations to the module RE-FX. The plan is to extend the existing operate lease RE-FX contract with a flexible and fully integrated review functionality according to IFRS 16. For this purpose, SAP will provide an interface-free integration into asset accounting, balance sheet, accounts payable and the income statement.
With this extension, SAP provides optimal support to reflect the new requirements within the ERP system.
After registration, we will send you the login details before June 29, 2016.
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Please do not hesitate to contact us.
Best regards
Thomas Wolf SAP Deutschland SE & Co Homberger Str.25 40882 Ratingen T +49 6227 777 546 M +49 160 908 22 318 | Axel Sperling SAP Deutschland SE & Co Rosenthaler Straße 30 10178 Berlin T +49/30 41092 – 163 M +49/160 9010 8629 |
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