Oracle Financials Cloud delivers a comprehensive solution designed to automate and streamline financial management processes end-to-end. Oracle Lease Accounting Cloud provides touchless capabilities to manage and process leases in compliance with International Financial Reporting standards IFRS 16 and ASC 842.
With Oracle Financials solutions organisation can achieve operational excellence, automate financial processes, provide real-time access to data, increase collaboration, and improve internal controls. Oracle Lease Accounting Cloud is a financial application that supports the creation and maintenance of leases in a single repository and generates amortisation schedules according to IFRS 16 and ASC 842 standards, capturing information such as the lease details, assets, and payments. A lease validation process that ensures the quality of the data before activation. The amortisation engine calculates the present value of the leases and the amortisation of the right-of-use and the lease liability balances according to IFRS 16 and ASC 842.
- Creation of property and equipment leases
- Capture of cash schedules needed for the generation of balances and invoices
- Generation of balances according to IFRS 16 and ASC 842 guidelines
- The generation of amortisation schedules using Daily Compounding Interest and Daily Amortisations
- Manage and process leases in a seamless manner
- Single repository of all lease obligations
- Generate calculations for balance sheet balances and expenses
Visit Oracle’s solution page to learn more.