4 Key Lessons for the Public Sector
The lease accounting standard IFRS 16 deadline for the U.K. public sector is April 2020. The lease accounting standard is now in effect within the private sector and is soon to be a reality within the public sector. This is most likely be the biggest and most complex initiative that controllers and financial accounting teams will tackle in 2020. In lease accounting, there is no “one-size-fits-all” solution.
Even though IFRS 16 is a common standard, transitioning is different in every organisation. A lease accounting program that is not well managed can easily end up being very costly when you truly evaluate the full lifecycle of a lease.
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Key Learnings & Best Practices
- What return on investments are achievable using the lease accounting software platform, LeaseAccelerator, which will in turn reduce cost pressure
- How a SaaS platform can enforce lease accounting compliance and corporate governance
- Why one size in lease accounting software does not fit all: Considerations for going live on Day 1 and ongoing work from Day 2 onwards
- How a SaaS solution that integrates fully digitised leasing into the global close process offers the best support for sustainable lease accounting compliance
Sr. Director, European Solution Consulting