IFRS 16 & ASC 842 Compliance
Top 5 questions frequently asked by organizations and how Lease and Financial Management Systems, like Manhattan, can help
This is the third in a series of white papers that examine the likely impact of the new lease accounting standards on all organizations that lease real estate, vehicles and equipment …
The first white paper looked at the key steps that every lessee company should take in order to be ready for the introduction of the new standards on
January 1st, 2019.
The second paper assessed the potential risks associated with the revolution in lease accounting, and highlighted 10 major mistakes that you should try to avoid to minimize the dangers to your company.
This paper looks at how the Manhattan system from Trimble is uniquely placed to ensure a smooth, risk-free transition to the new standards. It answers some of the key questions that are frequently asked by organizations that will be hugely affected by the lease accounting revolution.
- What is the Manhattan FASB/IASB Compliance solution?
- What makes Manhattan different?
- What happens when I get audited?
- What reporting functions do you have?
- What is your system going to do for us when we hit December 15th 2018 or January 1st 2019?
Manhattan is seen as the most comprehensive and least risky solution in the market because it’s the only product that has three key layers — accounting, lease management and compliance — built into a single, integrated, holistic database and system
Download our free white paper to learn more
"Manhattan can provide an audit trail for all significant transactions, such as the initial lease classification, the initial calculation of NPV of Future Lease Obligation and Right of Use (ROU) Asset, and the unwinding of the Obligation and Asset; not to mention Remeasurement of the NPV and ROU. This audit trail will prove invaluable during the audit of your 2019 (year of adoption) financials.”