IFRS

The International Financial Reporting Standards (IFRS) are a set of international accounting standards which state how particular types of transactions and other events must be reported in financial statements.

 

IFRS are issued by the International Accounting Standards Board (IASB), and they specify exactly how accountants must maintain and report their accounts. Current issued IFRS that are proving a challenge for customers, specifically around how they account for leases, is IRFS 16 and IFRS 17 where leases over a certain value must be disclosed.

Winterhawk offer expertise, implementation and support in two potential solutions which help customers to solve their challenges around lease disclosure and IFRS, these are:

  • Nakisa Lease Administration
  • SAP Real Estate Management (Lease and Contracts)

Nakisa Lease Admin

Nakisa Lease Administration

Nakisa Lease Administration is a standalone cloud solution designed to fill the white-space left by your existing finance and accounting systems. Lease Administration is a purpose built end-to-end lease management and accounting solution that centralizes company-wide lease data. The solution helps organizations manage global lease portfolios, gain strategic insights into financial data, and streamline lease accounting operations.

  • Lease lifecycle management
  • Manage contracts using a multi-level contract structure
  • Standardize lease determination and classification
  • Perform initial measurement of ROU assets and lease liabilities
  • Facilitate lease modification, remeasurement, and asset causalities
  • Prepare required quantitative note disclosures

SAP Real Estate Management

Streamline real estate and property management with SAP systems by simplifying the corporate, residential, and commercial real estate management. The software system natively integrates with back-end ERP financials and use the latest digital technologies to help you improve real estate portfolio performance, building management, lease accounting, and more.

  • On-premise or Cloud deployment options
  • Integration to CAD and GIS applications
  • Supports KPIs and other operational analytics
  • Supports new lease accounting standards (IFRS16 / ASC842)
  • Big Data optimisation

SAP Real Estate

Why Winterhawk?

Winterhawk supports customer’s challenges with more than just SAP FICO (Finance and Cost Controlling) technical implementation services. We have deep understanding in accountancy with Certified Public Accountants ready to understand and guide customers through the complex regulatory landscape in financial reporting.

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