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)