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Fixed Asset Accounting

A most comprehensive financial asset accounting solution for medium to large organisations. Includes depreciation and tax calculations in compliance with international accounting standards, budgeting and forecasting facilities, all with multi-lingual capability. Provides total control of the full asset lifecycle for any type of organisation.

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Asset Tracking

Designed for carrying out effective physical audits and reconciliation with the financial asset register. Asset details can be selectively downloaded to PDA scanners using bar coding technology to support the collection and uploading of audited results.

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Capital Project Control

A solution for the necessary control of the capital investment process. Provides integration between purchasing and invoicing, through to capitalisation of work in progress into the asset register. Budgeting, project approval, commitment and expenditure control capability is enhanced to satisfy the requirements of individual organisations.

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Lease Accounting

Handles the full lessee disclosure requirements for finance and operating leases and hire purchase agreements according to IFRS 16 and SSAP 21. Various methods are available for allocating finance charges to payment periods.

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Plant Maintenance

A comprehensive and extremely flexible module that provides for the scheduled and reactive maintenance routines of any organisation. Maintenance costs for all those resources utilised in the servicing and repair of plant and equipment are controlled and analysed as required.

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Parts Inventory

Provides control of engineering maintenance stock items using a variety of stock management methods. Can be integrated within the Plant Maintenance module database if preferred.

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IFRS issues new document

31 July 2015
The IFRS has issued a document entitled “Leases: Practical implications of the new Leases Standard.” This document describes the IASB’s lessee accounting model and compares it to the FASB’s model, highlighting the similarities and differences between them. In response to requests from stakeholders, it also provides an overview of some of the possible effects of the forthcoming changes to lessee accounting and of the work that the IASB has undertaken to assess those effects.

The IASB and the FASB are working together to improve the accounting for leases. In order to meet this objective, the Boards think that a customer (lessee) leasing assets should recognise assets and liabilities arising from those leases (including leases that are off balance sheet today).

The Boards jointly published a revised Exposure Draft for Leases in May 2013 ED. The Boards received extensive feedback on their proposals, and have heard a broad range of views. Since March 2014 the Boards have deliberated almost all aspects of the project. They will decide upon the effective date of the new Leases Standard in the next few months. The IASB plans to issue the new Leases Standard before the end of 2015.