Lease Accounting & Reporting
Lease Accounting & Reporting is a critical component within Statutory & Regulatory Reporting and requires specialized knowledge. This page highlights what it entails, why it is important, and what technologies you can use.
What is Lease Accounting & Reporting?
Lease Accounting & Reporting goes beyond lease accounting. It addresses specific accounting and reporting requirements for both lessors and lessees. The goal? Transparency and accuracy in line with international standards such as IFRS 16.
Why is Lease Accounting & Reporting important?
With changing international accounting standards, accurate lease accounting is becoming increasingly important. Errors can lead to financial discrepancies, penalties or reputational damage. Therefore, it is essential to be accurate and up-to-date in your lease reporting.
What technology do you need?
Lease Accounting & Reporting requires specific tools. These must be capable of recording individual lease contracts and performing complex calculations. The right technology can make a world of difference in the precision and efficiency of your reporting.
Common solutions to this issue are:
- CCH Tagetik
Lease Accounting & Reporting in a broader perspective
This is just one facet of Statutory & Regulatory Reporting. Other important topics include Financial Consolidation, ESG & Integrated Reporting and Tax Accounting & Reporting. Together, they provide the tools modern organizations need for their reporting requirements.