As of January 2019, the IFRS16 Standard imposes a single lessee accounting model; requiring lessees to ensure a permanent lease inventory, recognise assets and liabilities in their balance sheet and publish additional disclosures.
Addressing this statutory requirement, Reportwise Consulting, a specialist performance management company, have created an IFRS16 compliant solution powered by Anaplan, for data collection, calculations, reporting and disclosures of lease contracts.
Forming a new partnership, Reportwise and Vuealta are committed to helping UK businesses meet the needs of the requirements of IFRS16, through the deployment of the new App.
“The clock is ticking for these organisations, who need to have a solution in place by 1 January 2019,” said Ian Stone, CEO, Vuealta. “We are delighted to announce our new partnership with Reportwise whose Anaplan App we can deliver to companies across the UK in a short amount of time, carrying out implementations during the first half of 2018 in order to meet the statutory deadline.”
“The team at Vuealta are in a prime position to take our solution to market,” said Michel Morel, Anaplan Practice Lead at Reportwise. “Their Anaplan expertise and skills, combined with their existing customer relationships, means that we can expect to see successful deployments across relevant organisations, supporting this element of their IFRS16 compliancy.”