A lease accounting solution for
organizations in the retail industry.

Nakisa Lease Administration streamlines lease accounting for organizations
in the retail industry.

Lease contracts touch almost every aspect of a retail business. Retailers use these arrangements to make cost-effective investments in their stores, point-of-sale systems, distribution centers, and transportation equipment. The new lease accounting standards – IFRS 16 and ASC 842 – have brought new challenges to the accounting profession in the retail industry.

For many companies, adopting an on-balance sheet lease accounting model is a significant challenge by itself because of the requirement to capture and record substantially all leases. For retailers, however, there are activities common that create industry-specific complexities for the ongoing application of the new lease rules.

“Entities in the retail and consumer sectors are generally prolific lessees and, at times, lessors of assets. For retail and consumer companies with a significant portfolio of leases, the ability to gather the required information on existing leases and capture data on new leases at the outset will be critical to an orderly and smooth transition to the new standard. This may result in the need for new systems, controls, and processes, which will take time to identify, design, implement, and test.”
– PwC, A Look at Current Financial and Reporting Issues – Retail and Consumer Industry Supplement for IFRS 16 ‘Leases’

Smarter Lease Accounting for Retail

Want to learn more about the lease accounting complexities specific to organizations in the retail industry? Download Smarter Lease Accounting for Retail to learn how Nakisa Lease Administration can help support you on your compliance journey.

The solution for you.

Nakisa Lease Administration is a lease management and accounting solution designed to accelerate compliance with IFRS 16 and ASC 842 by automating, centralizing, and simplifying lease accounting operations. As a comprehensive lease accounting solution, Nakisa Lease administration helps organizations manage global lease portfolios, gain strategic insights into financial data, and streamline lease accounting operations.

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With the IFRS 16 and ASC 842 deadlines just around the corner, we continue to learn new and better ways to help our clients streamline their compliance initiatives, and we'd love to share them with you. Keep up to date on the latest lease accounting news, Nakisa updates, and our new eBooks and blogs, by signing up for our newsletter.