Review: Lease Accounting with SAP - e3zine – E-3 Magazine International

When it comes to financial disclosure, today’s leases are often reported off the balance sheet and disclosed as notes in financial statements. Two new accounting regulations will change this practice when IFRS 16 and ASC 842 take effect in 2019 and 2020. SAP has solutions to help you become compliant, and SAP Press has a new book on them.

What will you learn?

If you run a business, chances are you have some kind of lease. SAP offers two solutions to help with lease accounting: SAP Lease Administration by Nakisa (designed for operating leases) and SAP Flexible Real Estate Management (geared for real estate leases). SAP Press’ upcoming book Lease Accounting with SAP (IFRS 16 and ASC 842): SAP RE-FX and SAP Lease Administration by Nakisa will help you set up and run both solutions so you can ensure compliance.

Before diving into implementation and configuration, though, you may want to get a better grip on just what the new lease accounting laws mean for your company. The book provides an overview of both and how they specifically affect your balance sheet.

From there, think through your organization’s specific leasing processes, preview your implementation project, anticipate transition accounting requirements and approach, and more. Once your SAP Lease Administration by Nakisa and SAP RE-FX systems are live, manage your leasing data for property and equipment by following step-by-step instructions and screenshots. Along the way, follow implementation best practices to ensure a smooth and compliant transition.

Who is this book for?

The book’s 400-plus pages are perfect for anyone transitioning or thinking of transitioning to an SAP system for their lease accounting processes. Others who will want to give this book a read? Executive decision makers responsible will learn how their companies’ accounting processes must change to be compliant. IT professionals, consultants, project teams, and managers implementing SAP Lease Administration by Nakisa or SAP RE-FX will find setup information instructive. And lease practitioners will find answers to questions they might run into while working in these systems.

You can find the book on the SAP Press website and read a sample chapter by clicking on the “Browse the Book” button beneath the book’s cover.