Category: Lease Accounting

Sep 13

Dear IASB

Comments on Exposure Draft ED/2013/6 I generally welcome the reconsiderations of the IASB and FASB Boards in response to the feedback on the first exposure draft, ED/2010/09. However a number of issues, inconsistencies and unnecessary complexities remain. I summarise my main concerns below. Letter to IASB re Leases ReExposure Draft

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May 20

Get Set for Leasing Systems Shake-up.

Update May 2013: Since the publication of this article in December 2010, there have been significant delays to the re-drafting of the Lease Accounting Standards ED1. The Re-Exposure Draft was finally published in  May 2013 and, as expected, that it still contains significant changes for both Lessees and Lessors, including many of the issues discussed in this article.     Will IT …

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Permanent link to this article: http://transformingfinance.eu/get-set-for-leasing-systems-shake-up/

Jan 06

Keeping Tags On Your Assets

Some old fashioned truths were brought to the fore at LeasingWorld Expo, which lead Nic Evans on to a high tech solution for a very current industry challenge. “Mark your card” said the magician. I wrote my initials and a smiley on the four of clubs before holding it firmly down on the bar in …

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Permanent link to this article: http://transformingfinance.eu/keeping-tags-on-your-assets-2/

May 01

Go Forth and “Multi-”ply

Going multinational opens up multiple extra dimensions in system complexity. The biggest strategic efficiency for multinational systems is gained by having front-end, administration and accounting systems that can travel in these extra dimensions Multi-Format – Culture-specific number formats (thousand and decimal separators) currency symbols (prefixes or suffixes) and date formats are essential to present users …

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Permanent link to this article: http://transformingfinance.eu/go-forth-and-multi-ply/

May 01

Snakes And Ladders – The Benefits and Pitfalls of Pan European Finance Systems

Henry Ford is the father of modern mass production. His production lines established Ford as the first global car manufacturer. Yet it was not until 34 years after his death that Ford produced their first global car – the Ford Escort. Ford set out to use common components worldwide, but by the time the Escort …

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Permanent link to this article: http://transformingfinance.eu/snakes-and-ladders-the-benefits-and-pitfalls-of-pan-european-finance-systems/

May 01

European Vision – Pan-European Finance Systems Delivery

For many international finance organisations there is a holy grail of a single system and standardised global processes that can deliver best practices and major efficiencies. But can a single platform meet all the diverse needs of the local businesses? Do the complexities, costs, delivery time and risk of global projects outweigh the benefits? In …

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Permanent link to this article: http://transformingfinance.eu/european-vision-pan-european-finance-systems-delivery/