ASC 842, IFRS 16 and Leasing: How to Transition over a 3.3 Trillion Dollar Speedbump
SANTA CLARA, CA – May 2nd, 2017 – Join Bramasol and Nakisa for the first in an important new series of Lease Accounting and Compliance Webinars to be held on May 11, 2017.
In 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new standards for lease accounting: IFRS 16 & ASC 842, which must be implemented by 2019. Both IFRS 16 and ASC 842 are the result of a joint effort between the IASB and FASB to meet the objective of improved transparency, comparability and financial reporting.
These changes will impact virtually all companies, requiring that most leases be shown on company balance sheets. Some economic estimates indicate that the global impact will be as much as $3.3 trillion in aggregate changes to company balance sheets.
If you lease, regardless of your company’s size or industry, under the new standards your balance sheet will be different. Now is the time to plan for the transition.
Bramasol and Nakisa will share with you an overview of the accounting implications & challenges, explore SAP solutions for Lease Accounting, and have a practical discussion about how you can transition to the new standards.
The presentation will be followed by live Q&A
Webinar Details:
Date: May 11, 2017
Time: 10am PDT / 1pm EDT
About Bramasol
Bramasol is the Revenue Recognition leader and a recognized SAP Revenue Recognition services partner for companies seeking to comply with and benefit from the new Rev Rec standards. Our SAP-certified experts, partnering with SAP, assisted in the majority of SAP Revenue Accounting and Reporting Ramp-Up projects. Driving successful workshops, Proofs of Concept, and implementation projects throughout the U.S., Bramasol is the go-to partner with the experience and expertise for companies wanting to leverage SAP Revenue Accounting and Reporting to comply with ASC-606 and IFRS 15 and the newly announced IFRS 16 for leasing.
