Lease Accounting
Your solution to simplify compliance with IFRS 16 and FRS 102 Section 20.
Streamlining the Process
Managing lease accounting compliance is a complex process. Regulations such as IFRS 16 and FRS 102 Section 20 require organisations to bring Right-of-Use leases onto the balance sheet, increasing the need for accurate data, automation, and robust reporting.
A specialist lease accounting solution enables finance teams to manage lease obligations efficiently, ensuring compliance while improving financial control and reducing administrative burden.
Real World Results
"We needed a system to provide accurate reporting and disclosure for our Group Consolidated Accounts reported under IFRS 16. CCH Tagetik delivered exactly what we were looking for – it's easy to use interface, automation, and reporting capability meaning that we can now accurately consolidate and report to meet the requirements of IFRS 16."
Key Challenges of Lease Accounting
Compliance with IFRS 16 & FRS 102
Lease accounting standards require businesses to recognise lease liabilities and right-of-use assets on the balance sheet. Without the right tools, tracking these changes can be time-consuming and prone to error.
Manual & Complex Calculations
Traditional spreadsheets make it difficult to manage multiple leases, renewal terms, and discount rate calculations while ensuring strict compliance with changing standards.
Time-Consuming Audits & Reporting
With growing scrutiny over lease disclosures, finance teams need a system that simplifies audits and provides real-time, transparent reporting capabilities.
How a Lease Accounting Solution Helps
Automated Lease Calculations
Reduce manual effort and ensure accurate lease liability and right-of-use asset calculations across your entire portfolio.
Comprehensive Reporting & Audit Trails
Generate disclosure reports, track lease modifications, and maintain an audit-ready data trail to satisfy internal and external reviews.
Compliance with IFRS 16 & FRS 102
Stay ahead of regulatory changes with a solution designed to support global and UK lease accounting standards out of the box.
Scalability for Growing Portfolios
Whether managing a handful of leases or a complex global portfolio, our solution scales seamlessly with your business needs.
Seamless Integration
Connect with your ERP, general ledger, and financial reporting systems for smooth data consolidation and automation.
Lease Lifecycle Management
Simplify end-to-end lease management with built-in workflows for approvals, renewals, and mid-term modifications.
Contact our team for advice on navigating IFRS 16 and FRS 102 Section 20 implementation.