CHP Consulting has published its whitepaper on the IASB’s Exposure Draft with a focus on technical and accounting solutions.
Entitled How lessors are meeting new challenges using futureproof technology, the whitepaper addresses what CHP Consulting considers to be the three principal systems issues raised by the proposed changes to lease accounting set out in the Exposure Draft: accounting under the two new lessor models, accounting on a ‘likely outcome’ basis, and managing the transition to the new regime.
Andrew Denton, CHP Consulting’s chief operating officer, said: “In its current form, the Exposure Draft poses a considerable challenge for lessors in terms of both initial application and ongoing requirements. All lessors will need to make changes to their systems architecture to cope with the proposed accounting regime, and indeed for many this also represents an opportunity to review the technologies available and build a business case for change.
“We believe our ALFA Systems to be the best platform available. Its multi-accounting capabilities, flexible reporting and built-in business rules engine mean our customers and prospects are well placed to take on these changes with ease.”