IFRS-16
IFRS 16 is the international accounting standard for leases that fundamentally changed how organisations recognise lease obligations on their balance sheets. As part of the Oracle EPM Cloud suite, tools like Financial Consolidation and Close can help companies comply with IFRS 16 requirements efficiently. Here we outline what the standard means and how James & Monroe can support your transition.
What Is IFRS 16?
IFRS 16 is a new accounting standard for leases which goes into effect as of January 2019, and requires lessees to recognise most leases on their balance sheets. This involves much more work in collecting, calculating, reporting, and disclosing data than you might think.
But with the right solutions, you can fulfil all these requirements while maintaining the high quality of your data.
At J&M, we are dedicated to making your journey towards IFRS 16 an easy one. In addition to knowing everything you need to do to prepare your systems for the reporting standard, we have been entrusted to provide end-to-end services for Oracle’s EPM Solution.
Need Help with IFRS 16 Compliance?
James & Monroe specialises in Oracle EPM Cloud implementations and can help your organisation navigate IFRS 16 requirements. From system configuration to reporting automation, our experts ensure a smooth transition.
