X

Proactive insights, news and tips from Oracle Hyperion EPM and BI Support. Learn Oracle from Oracle.

Oracle Financial Consolidation and Close Cloud (FCCS) - Managing IFRS 16 Compliance

Tanya Heise
Sr Principal Technical Support Engineer

Meet the new lease reporting standards with Financial Consolidation and Close Cloud.

Effective January 1, 2019 for many companies, the IASB’s (IFRS16) and the FASB’s (ASC842) new lease standards require nearly all leases to be reported on lessees’ balance sheets as assets and liabilities.

The impact of IFRS 16 and ASC 842 will be pervasive, and with the deadline approaching fast, companies should not wait to develop their solution.  Even for small to medium-sized businesses, the task of becoming fully compliant could be labor-
intensive. For those with large portfolios or decentralized lease management practices, the task will be particularly burdensome. On the other hand, the new standard gives organizations a great opportunity to ensure future financial reporting is organized, transparent, and most of all, compliant.

Review this whitepaper for more information on managing IFRS 16 compliance with FCCS.

Helpful Links:

 

 

Be the first to comment

Comments ( 0 )
Please enter your name.Please provide a valid email address.Please enter a comment.CAPTCHA challenge response provided was incorrect. Please try again.Captcha

Recent Content

Oracle

Integrated Cloud Applications & Platform Services