FAS AG also offers other leasing services for lessees and lessors or leasing companies in addition to its advisory services for the new lease accounting under IFRS 16.
Conversion of Lease Accounting to IFRS/US GAAP
The conversion of the lease accounting includes both the conversion of previously local accounting to IFRS or US GAAP (key words: classification as operating lease and finance or capital lease) and the future new lease accounting in accordance with IFRS and US GAAP.
Automation and Optimization of IFRS/US GAAP Lease Accounting
The lease accounting at many companies is still handled using MS Excel®, is not standardized throughout corporations, and presents difficulties for non-standard lease agreements and processes. We work with you to optimize and jointly automate your lease accounting and increase security with a simultaneous reduction in cost.
Leasing Strategy and Lease Portfolio
The leasing strategy is frequently not documented or not implemented in a uniform manner. Decentralized units circumvent investment stops by concluding lease agreements, or leases are used for reasons that are contrary to the overall interests of the company. Furthermore, there is frequently no overview of the leasing partners and conditions throughout the company or group. We assist with this by defining a leasing strategy and optimizing the leasing portfolio and group-wide roll-out.
German Banking Act "Light"
Changes in the German Banking Act [Kreditwesengesetz, KWG] mean that leasing companies are also subject to supervision by the Federal Financial Supervisory Authority [BaFin]. We advise our clients on the one hand in the development of the appropriate organizational structure (particularly MaRisk) and in the design of the reporting requirements. We also support our clients actively in an operational capacity so they can satisfy reporting duties under the Banking Act "light," or we help them with the handling of an internal audit.