IFRS 16 with Anaplan
From 2019 onwards, the new IFRS 16 accounting standard must be applied. The valuation of lease constructions on the balance sheet can have a lot of impact on the figures of your organisation. Our custom built application allows users to easily manage their lease contracts while complying with IFRS.
Our specialists have developed a standard IFRS 16 solution on the Anaplan platform alongside our partner Finext. The advantage of this cloud-based solution lies in the rapid implementation and limited need for IT resources. The application is flexible enough to grow with the organisation without having to make investments in advance. Anaplan is also known to be highly user-friendly with an intuitive interface where all data is managed centrally.
IFRS 16 Application
The IFRS 16 Anaplan application that we have developed in conjunction with our partner Finext gives users the option of easily creating new contracts and modifying existing contracts. In addition, an automated upload can also be developed, whereby it is clear which contracts are new or modified. The financial consequences of contract changes are automatically calculated. Anaplan offers the functionality to process the results of these calculations directly in your ERP system. This custom built application can be implemented within your organisation within a short period of time and with no requirement to be a current Anaplan customer.
Users can manually change contract details, of which its financial effects are automatically recalculated throughout the model. An automated upload is also possible.
All financial data is presented in dynamic reports. The blue input fields indicate that users can make manual adjustments to lease contracts.
The workflow keeps an overview of the status of all contracts, including the responsible user.
The dashboard give insights in monthly payments and cashflows concerning lease payments.
Various graphs show what impact IFRS 16 has on assets, liabilities, depreciation and cashflow.
Journal entries are calculated in the model and gathered in this dashboard, to easily export this for your local ERP system.
Short implementation time
One version of the truth
Connect to ERP
Time-saving with automatic uploads
Real-time reporting to make business decisions
Manage and modify your total scope of lease contracts. Save all required information within the Anaplan platform to ensure one version of the truth.
Contract changes such as early termination, prolongation or a change in discount rate (and many more) are automatically recalculated throughout the model. When contract modifications are uploaded, the calculations will reflect the change automatically without any user input needed.
All journal entries related to new contracts, contract changes and monthly amortisation and depreciation are gathered on dashboards and can be exported to your local ERP system.
Gain insights in your data to see what impact IFRS 16 has on your financial statements. With the advanced Impact Reporting functionality you can even see the impact of the new standard without actually booking it first.
Automated uploads to add new contracts and even monthly contract modifications are available in the app. The upload is fully customisable to match your requirements. Manual adding of contracts is also available.
Workflow & Security
A full contract work- and approval flow is available in the app. Security options are very flexible and can be customised according to the needs of your organisation.