Kyriba launches lease accounting solution

The solution enables accounting teams, corporate treasurers, CFOs and other senior financial executives to better mitigate risk through the centralized tracking of all corporate leases. With international accounting standards such as IFRS 16 scheduled to go into effect on 1st of January 2019, US corporates will be required to prepare detailed reporting and calculations for off balance sheet leases. Kyriba’s module allows for consolidation of lease data, auditable workflows, and automated calculations to simplify ongoing compliance overhead.

Key features of Kyriba’s lease accounting solution include: multi-lingual central repository of all leases, managed in the cloud; data exchange import and/or copy and paste from Excel; document attachment for full visibility and auditability of lease details; automatic calculation and reporting of values for asset, liability and depreciation; management of life-cycle events such as early termination, extensions, returns, renewals and purchases.