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IFRS 16 software: are you ready for the new lease accounting standards?

A fully integrated solution for IFRS 16 & Topic 842

Ensure compliance using software specially designed to manage your real estate and equipment leases

By 2019, IFRS 16 and Topic 842 will require businesses to record leases on the balance sheet. These standards apply to land, buildings and asset leases over a year in length.

Our solutions have always worked to enable compliance with core accounting and financial reporting regulations. That’s why we are pleased to announce the release of Qube Horizon 10.2 Service Pack 4, which includes enhanced functionality for the new lease accounting standards.

Our solution can be implemented as a standalone IFRS 16 calculation tool or be delivered as part of an integrated lease management and accounting system.

However, it could be that your accounting jurisdiction does not require this, for instance FRS/UK GAAP – but rest assured we have the requirements for this covered also.

  • Automatic recalculations and associated balance sheet adjustments when required
  • Manage landlord incentives, impairments and dilapidations
  • Manage transitional rules
  • New disclosure reports providing details of right of use assets, interest, amortisation, cash flow and weighted terms
  • Alerter functionality for notifications when critical information changes
  • Scenario modelling of lease terms to limit the impact of new leases on the balance sheet
  • API available to interface IFRS 16 journals and lease payments to your corporate ERP
  • Set materiality thresholds with the ability to exclude low value leases
  • Discount rates defined by asset class
  • Multiple assets grouped to a single lease contract when required
  • Manage decision making process for break clauses and extensions
“ Before implementing the software, our month-end reports took over a day. Now, it takes less than half an hour. ” Kurt Mather | Property Director - HSS Hire

Personalise

Configure your software for a single,
personalised view of properties, priorities
and performance

Analyse

Proactively manage your real estate
portfolio and analyse business
information

Prioritise

Assess the urgency of tasks
and prioritise them to ensure
you never miss a date

SaaS Native web-developed SaaS solution, accessed easily just using a browser.
Security We hold the ISO 27001:2013 security certification for our Qube Horizon SaaS product.
Business Intelligence Business Intelligence on every screen to optimise performance.
Automate Streamline and automate your lease management and FM processes.

A straightforward system
Our system has a simple interface to input the required data. It will then automatically generate the right of use asset, liability, interest and depreciation schedules, in addition to the corresponding lease expense for the life of the lease.

Throughout the life of the lease when an event has an impact on the balance sheet, the software will automatically take these into account and recalculate the right to use asset and liability adjustment. Included in these calculations are incentives received, such as fit out contributions, rent and partial rent-free periods, additional costs such as legal fees, dilapidations and asset adjustment through impairment.

These schedules are fully reportable with a suite of reports based upon IFRS 16 guidance provided. The schedules are exportable to

excel for modelling purposes and can be automatically delivered for use in corporate accounting systems to avoid manual journaling.

We also provide dual reporting for those companies that need to report leases to both IFRS 16 & ASC 842 simultaneously.

Risk avoidance
You can reduce your risk of non-compliance with the new standards by using software specially designed to manage both your real estate and asset leases. Ensure complete peace of mind with software that has been developed over many years in line with major accounting standards and leasing processes.

Industry knowledge
Whilst experts in corporate real estate and lease management software, we also have experience in property finance and accounting with hundreds of customers globally trusting our software solutions. For over 40 years we have worked across a wide range of businesses including industrial, commercial, financial, retail, telecoms and transportation.

An opportunity for improvement
You can take this change as the catalyst to improve the whole lease management process. Use our software to streamline your working practices and eradicate duplication of data and effort. Our system is designed specifically for lease management that is proven to deliver better decision making for leading global brands.

Who uses the software?

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used in

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40

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used by

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