BOARD Lease Accounting

Easily manage IFRS 16 and ASC 842 compliance

The new IFRS 16 and ASC 842 standards, coming into force in 2019, requires organizations to include greater detail in the accounting of rented or leased property and equipment. With Excel spreadsheets not a viable (or compliant) option, businesses are left with the challenge of collecting, managing and reporting on greater volumes of data in line with the new standards.

BOARD Lease Accounting enables companies to achieve IFRS 16 and ASC 842 compliance for their lease accounts with ease, taking care of the entire process of data management, calculation, simulation, and reporting.

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Key Capabilities of BOARD Lease Accounting

Data Integration and Easy Setup
BOARD Lease Accounting is a pre-configured solution which integrates easily with existing data architectures
 

Complete Process and User Control
A user-friendly dashboard enables easy monitoring of the entire IFRS 16 and ASC 842 processes, an alerting system ensures deadlines are met, and user settings allow for the definition of user capabilities and the segregation of duties
 

Flexible Modeling
Simulate the impact of different scenarios to ensure you take the best possible decision; all IFRS 16 and ASC 842 calculations are generated by the solution, with full currency conversion capabilities
 

Disclosure and Reporting
A single lease data repository allows you to rigorously calculate and disclose for IFRS 16 and ASC 842, with built-in BI functionality to visualize and analyze to help you make better decisions

Contract Lease Management
A fully supported process helps you to easily manage your lease contracts, providing a collection, calculation and documentation base for your accounting consolidation entries

Key Features of BOARD Lease Accounting

  • Application controls over processes
  • User capabilities management
  • Fiscal period management
  • Alerting Data Manager
  • Contract data uploading from different data sources
  • Contract applicability according to IFRS 16 and ASC 842 checklists

  • Different approach available for journal calculation
  • Automatic Journal calculation
  • Creation and comparison of unlimited scenarios
  • Currency conversion at transaction, local or group level
  • Posting to different ERP systems
  • Unlimited possibility to create reports, dashboards, and charts

Video Overview
Request a DEMO to see BOARD in action
 

Find out more about how our application can help you become IFRS16/ASC 842 compliant