Wolters Kluwer CCH Tagetik Lease Accounting (IFRS 16 & ASC 842) is a pre-configured starter kit for lease accounting compliance intended to centralize lease data (lessee, lessor, subleases), perform IFRS 16 / ASC 842 calculations, produce reporting and disclosure outputs, and provide process controls (workflow and audit trail) within a single system. The offering is presented by the vendor as scalable from small to very large lease portfolios, and includes support for multi-currency and multiple charts of accounts.
Key capabilities documented by the vendor include:
- Centralized lease repository for multiple lease types (real estate, fleet, equipment, etc.)
- Pre-built data model and calculation models for lease accounting standards
- Workflow and audit trail controls for data collection and reporting
- Scenario and impact analysis (balance sheet and profit & loss impacts)
- Integration capability to ERPs and other source systems (vendor states integration to general ledgers, lease management systems, and other source systems)
Notes on vendor claims: these vendor-provided capabilities are a starting point for evaluation. Prospective buyers should validate functionality and coverage for specific lease portfolio characteristics and edge cases during demonstrations and proof-of-concept engagements.