ShareControl IFRS 16

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What is ShareControl IFRS 16?

Manage all your company's leases and contracts in one system, ensuring comprehensive oversight of changes and renewals. Our solution offers a guided quality registration feature that verifies necessary data before storing it in SharePoint. Lease data is uploaded into calculation templates, with the calculation basis and metadata locked post-completion for auditing purposes. Documents and relevant information are stored alongside key contract data, facilitating seamless sharing with auditors and ensuring an efficient audit of your company’s ongoing IFRS obligations. ShareControl IFRS 16 leverages SharePoint metadata to record essential lease agreement information, which is then uploaded into Excel calculation templates within the solution. Accounting memos on specific contracts are stored together with key data and the contract itself, enabling a streamlined process for implementing IFRS 16. Share this with your auditor for a smooth and effective audit process. Features of ShareControl IFRS 16 include: • IFRS 16 calculations and access to lease agreements and relevant documentation. • Management of IFRS 16 obligations for financial lease agreements. • Notifications for index adjustments, option exercises, terminations, and renewals. • Overview of changes, reconciliation setup, and notes to accounts. • Layout displaying period changes, reconciliations, and note information. • Various search and filter options. • Import of lease data. • Integrate automatic reporting into your accounting or consolidation system. • A knowledge base with eIFRS links. • Guided process for determining lease classification. Read more about the solution here: https://sharecontrol.io/en/products/ifrs-16-system/ About Share Control AS: Founded in 2014, Share Control specializes in document and agreement management solutions for the corporate market, developed on Microsoft's modern cloud platform, Microsoft 365 in SharePoint. We were pioneers in delivering ready-made SharePoint solutions with "out of the box" functionality in Microsoft 365. In 2015, Share Control became the first Norwegian IT company to launch a business app in the Microsoft App Store. Since then, we have continued to innovate, providing solutions for contracts, IFRS 16, document management, and compliance with the Norwegian Transparency Act.

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Languages Supported

Danish, English, Norwegian, Swedish

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Product Description

ShareControl IFRS 16 simplifies accounting of leases and leases under IFRS 16. Save time and ensure accurate financial reporting with the "all-in-one IFRS 16 system". The system provides guidance through all steps to determine the correct rental classifications of your contracts. With automatic calculations, you can streamline the work with leasing agreements under IFRS 16 while ensuring a correct entry of the agreements. In ShareControl IFRS 16 it is easy to import leases, manually or from other systems, this includes data such as lease period, payment schedule, interest rate and other necessary information for calculations. The solution guides the user through a step-by-step process, where you ensure correct identification and classification of the contracts. The system will calculate the value of the asset for right of use at the start of the lease. This includes the initial amount of the lease liability, in addition to any lease payments made at or before the start of the lease. In the case of lease payments, the rental liability will automatically decrease and interest charges will be calculated based on the remaining liability. To meet financial reporting requirements, the system will automatically generate required accounting entries and reports, including depreciation schedules and other important lease measurement values. Reporting in ShareControl IFRS 16 can also be integrated via Power BI and Excel. ShareControl IFRS 16 is built on SharePoint (addon) in Office 365. ShareControl IFRS 16 is a quick way to take advantage of what SharePoint has to offer, without spending time setting up your site, its lists and document libraries. It has an easy-to-use user interface and provides the necessary file structure to get started, enhancing the SharePoint functionality you need to become even more efficient.

Seller Details

Seller

Share Control AS

Year Founded

2014

HQ Location

Oslo, Norway

LinkedIn® Page

www.linkedin.com

Description

Share Control started up in 2014 with solutions for document and agreement management in various subject areas for the corporate market. These were developed on Microsoft's modern cloud solution platform Microsoft 365 in SharePoint. We were thus early on developing ready-made SharePoint solutions with "out of the box" functionality in Microsoft 365. In 2015, Share Control was the first Norwegian IT company to launch a business app in the Microsoft App Store. After this time, Share Control has continued its development and now delivers solutions directly to customers that cover several areas of use for contracts, IFRS 16 and document management as well as solutions for the Transparency Act.

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Overview Provided by:

Mathias Pedersen

Marketer for Share Control AS