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, are IRFS 16 and IFRS 17 where leases over a certain value must be disclosed.

Winterhawk offers expertise, implementation and support in SAP Real Estate Management (Lease and Contracts) which can help customers solve their challenges around lease disclosure and IFRS.

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 uses 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

Streamline your residential and commercial real estate processes

Real estate objects management

  • Access a dual view of master data, with an architectural view and a usage view
  • Create and manage all types of real estate objects, including business entity, land, building, rental unit, rental space, and rental room objects

Contract management

  • Manage all contracts related to your real estate portfolio, including lease-in, lease-out, customer, and vendor contracts
  • Assign any number of rental objects from different business entities, buildings, or company codes to any one contract

Space optimisation

  • Account for unusual architectural structures, usage considerations, and technical amenities and features
  • Define spaces flexibly and rent them, extracting them from a larger available space
  • Represent your real estate objects visually via data exchange with external graphic systems

Credit-side view of lease-in processes

  • Control cash flow to the landlord
  • Organise expense posting

Centralised business processes

  • Integrate asset management postings and reports, real estate controlling, and planning and controlling of new building developments, maintenance, and modernisation projects
  • Manage purchase order processing and commitments for real estate maintenance

Why Winterhawk?

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

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