IFRS16
An asset lease and rental contract management solution that complies with the legal requirements of the IFRS 16 standard.
FAS-IFRS16 Solution
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Overview
A lease asset and rental contract management solution designed to comply with the IFRS 16 standard requirements. The program is structured to enable convenient and fast financial reporting for all lease-managed assets, including real estate, vehicles, and equipment, etc.
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Key Features
An SAP-based packaged solution providing flexible and convenient financial closing through FI general ledger integration and journal posting.
By configuring Asset Class Master, depreciation flows can be identified in advance through simulation reports of lease contract information.
Automated depreciation journal entry processing reduces year-end closing time
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Business Value
Visibility Database management of lease contract information Maintaining consistency in accounting treatment
Increasing operational efficiency Simplifying measurement of lease liabilities and right-of-use assets Providing diverse reports Effective audit response through verification
FAS-IFRS16 Key Features
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Contract Management
Ensuring user convenience for registering and managing executed contracts
Contract information registration
Early termination of contracts
Contract modification and maturity management
Contract change history management
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Lease Management
Standardized logic for new leases and lease modifications based on lease accounting standards
Right-of-use asset depreciation list
Monthly Accounting Closing Management (Journal Closing)
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Simulation
Pre-contract lease simulation for installment-based analysis
Simulation history management
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Accounting closing journal entry generation
Intuitive program structure centered on process owners from lease contract to voucher processing
Lease payment journal processing
Liquidity reclassification journal processing
Liability evaluation management
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Corporate report provision
Verification and effective audit response through diverse report provision
Balance inquiry by lease account
Voucher processing history inquiry by lease contract
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Master data Management
Master configuration compliant with internal accounting standards
GL account management
Area-based allocation
Accounting standard management
Posting Rule
Implied Forward Rate (Incremental Borrowing Rate (IBR))