What measures have you taken to ensure compliance with the new standards?
Designed with market-driven feedback, Nakisa Lease Administration is the result of close collaboration with our co-innovation customers and has been reviewed and validated by more than one of the “Big-4” accounting firms and other independant firms.
What standards are supported?
The solution was built from the ground up to support the new lease accounting standards: IFRS 16, ASC 842, and GASB 87.
Can you support determination or classification under the new standards?
Yes, the solution includes functionality to assist in the classification of contracts under the new standards and will guide users towards an assessment with final determination based on each customer's corporate accounting policies.
How do you support compliance with the comparative reporting requirements of the new standard?
The solution supports the comparative reporting requirements for transition accounting purposes. This can be achieved through the set up of multiple accounting standards and via standalone mode.
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