Lease Accounting, a new product, comes bundled with Oracle Financials in Oracle Cloud. Lease Accounting is going to be Oracle’s flagship product in IFRS16/ASC842/GASB87 domain. It delivers a comprehensive solution designed to automate and streamline financial management processes end-to-end. Oracle Lease Accounting Cloud provides touchless capabilities to manage and process leases in compliance with International Financial Reporting standards IFRS16 and ASC842.
Oracle Lease Accounting Cloud is a financial application that supports the creation and maintenance of leases in a single repository and generates amortisation schedules according to IFRS16 and ASC842 standards, capturing information such as the lease details, assets, payments, options, attachments etc. A lease validation process that ensures the quality of the data before activation. The amortisation engine calculates the present value of the leases and the amortisation of the right-of-use and the lease liability balances according to IFRS16 and ASC842.
- End to End Solution for IFRS16, ASC842, GASB87 and INDAS116
- Management of Property and Equipment Leases
- Capture of cash schedules needed for the generation of balances and invoices
- Generation of balances according to IFRS16 and ASC842 guidelines
- The generation of amortisation schedules using Daily Compounding Interest and Daily Amortisations
- Multi-GAAP, Multi-Currency and Multi-Languages
- Disclosure and Operational Reports
- Milestone and Dashboards for Operational needs
- Integration with Financials Cloud products for Payment Processing, Accounting etc
- Rent Increases, Contingent Rents, Lease Modifications in line with IFRS16 and ASC842. Visit Oracle’s solution page to learn more
Visit Oracle’s solution page to learn more.