IFRS 16 – Lease Accounting Software

CCH Tagetik

CCH® Tagetik IFRS 16

Lease Accounting (IFRS 16) – IFRS Reporting Engine

CCH Tagetik Lease Accounting solution for IFRS 16 & ASC 842 ensures compliance with new leasing regulations and helps you manage the large volume of IFRS lease accounting data.  This automated lease accounting software solution provides data collection, calculations, reporting & disclosures.

From our Tagetik IFRS 16 implementations for major brands such as Smith & Nephew, TI Automotive and Gama Aviation we have formed a clear picture of the key system capabilities that you need to have an efficient and compliant IFRS 16 solution.  Take a look at the capabilities in the video below.  DOWNLOAD OUR IFRS16 eBOOK

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CCH Tagetik IFRS 16 Features

Powerful Calculation Engine

The solution starts you on the way to compliance with a preconfigured data model and leasing calculation models. With CCH Tagetik, you can import and/or input data including leasing contract info, asset details, fixed and variables lease parameters. All lease exemptions are shown in one view to compare and adjust for IFRS 16/ASC 842 and Transition period. Graphically view assets, liabilities, expenses, depreciation and interest expense to show impact on Balance Sheet and Profit & Loss using different scenarios. Results can be viewed IFRS/ASC full amounts and Delta bookings for ‘as-is’ and ‘to-be’ analysis.

Integrated Solution

CCH Tagetik’s ETL capabilities allow you to seamlessly import or export data from any source system. Without disrupting your existing architecture, our IFRS solutions integrate with all systems including CCH Tagetik CPM and non-CCH Tagetik applications. Import or export data from any source with the confidence.

Leasing Data Mart

The solution creates a corporate leasing data mart for IFRS 16 & ASC 842 and other reporting requirements. From the single version of the truth, you can accurately calculate, report and disclose while minimising risk. CCH Tagetik integrates with Qlik Sense and Microsoft BI solutions so you can easily analyse and drill down as deep as you need to. When you’ve got the confidence in your numbers, you can spend more time on analysis and forward planning.

Modelling and Calculation Engine

With CCH Tagetik’s calculation engine and the power of analytics, you can process and calculate large volumes of data quickly. Flexible modelling allows you to easily configure and maintain calculation logic and rules with a Finance-friendly interface to stay compliant.

A Pre-Built Solution

Out of the box, users get a data model that’s compliant. The kit includes preconfigured calculations, workflow and a suite of modelling tools, so that you can extend and manage a library of leasing data models. Maintain contract models for lease type (land, vehicles, computers etc.). Calculate right of use (RoU) Asset and liabilities for present value of its future lease payments. Calculates a depreciation charge for lease assets, and an interest expense on lease liabilities.

Disclosure and Reporting

A single version of data makes it easy to analyse, drill down to details, and report while adhering to IFRS 16 & ASC 842 disclosure requirements. With our additional Collaborative Office solution, you can easily create a MS Word financial statement, a pdf board book, a PowerPoint presentation or a submission to regulators; have complete confidence that numbers and narrative are accurate and auditable.

Our services

We specialise in CCH Tagetik IFRS16 and can implement, train and support you on planning, training and implementing your CCH Tagetik solution. We don’t just sell the software, we become your partner and provide all the resources required for implementation; project management, consultancy and training.

Client testimonial

“We knew going into the selection process that we needed a vendor that could take our budgeting and planning to the next level while also supporting the complexity of being a global company. As we went through the selection process, CCH Tagetik became the clear leader because of its strong, unified solution that includes external reporting, XBRL, financial close and built-in integration with Microsoft Analysis Services and SharePoint. It also helped that CCH Tagetik had the highest customer satisfaction ratings and all of the customers we spoke with gave us very positive feedback on the company and the solution.”

Ronald van VeenVP of Finance - CORSAIR

Example HAYNE implementations

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