The Onfinity Lease Accounting solution has been especially designed for IFRS 16, ensuring complete and effective financial and accounting compliance. With Onfinity Lease Accounting tool, IFRS 16 is easily implemented through a non-disruptive process that provides assistance to the lessee and the lessor across all their accounting requirements.
Key Benefits of Onfinity Lease Accounting Solution
Allows accuracy and precision in accounting
Handles all computational and modelling needs effectively
Describes disclosure and reporting elaborately
Monitors and tracks processes constructively
Integrates effortlessly
How to ensure compliance to IFRS 16 and effectively handle lease accounting data?
The method of straight-lining is no longer relevant to compute lease costs. Moreover, Excel is no longer the savior of the finance department!
READ WHITEPAPER keyboard_arrow_rightUnique Features of Onfinity Lease Accounting Solution
Especially devised to be IFRS 16 compliant
Onfinity Lease Accounting solution enables companies with significant leasing operations and keeps all reporting and transactional aspects IFRS 16 compliant.
Allows smooth transition from IAS 17
The transition from IAS 17 to IFRS 16 is a challenging process, especially for large organizations with a number of permutations to consider. Onfinity Lease Accounting solution provides a host of different transition options including many individual options and practical expedients that are especially beneficial for the lessee.
Single, easy-to-use system
Large organizations manage a huge amount of reportable leases across different subsidiaries. The Lease Accounting Solution from Onfinity is a user-friendly system that allows for seamless collating of data from multiple sources under one big umbrella, managing calculations, modelling, accounting and reporting.
Multi GAAP compliant solution
The Lease Accounting solution from Onfinity has the responsibility to converge and harmonize GAAP which follows a rule-based approach with IFRS 16, which follows a principle-based approach creating a consistent financial reporting module across the organization irrespective of jurisdictions.
Let’s Talk!
Explore how Onfinity can help your enterprise manage IFRS reporting more efficiently.
CONTACT US