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IFRS 16 in the GLC: The number of contracts does not matter - Why excel is not a permanent solution
In 2019, many companies decided to do the IFRS 16 accounting in Excel. Excle was the market leader in "leasing tools". In the meantime, we at AMANA have supported numerous companies in automating their leasing process and switching from Excel to a software solution - the AMANA GlobalLeaseCenter. The number of leasing contracts did not play a role here. Companies with fewer than 20 leasing contracts have also made the migration. The number of leases is therefore not an argument for the permanent use of Excel for lease accounting. In this webinar, we will explain the reasons why migration to a software makes sense in any case: for the employees who maintain and balance contracts, but also for the decision-makers.
The GlobalLeaseCenter is a convenient standard solution from AMANA to effectively and efficiently lease acounting according to IFRS 16. The software product is accompanied by a professional and technically experienced team of consultants, in which the knowledge about the product and the processes surrounding the product are bundled and made available to you.
Referents: Eva-Maria Kuhlmann
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CSRD reporting and publication challenges in practice – with AMANA & Envoria
After its adoption in November 2022 by the European Parliament, the Corporate Sustainability Reporting Directive (CSRD) entered into force on January 5, 2023. This created the basis for comprehensive and comparable sustainability reporting that goes far beyond the previous non-financial reporting by companies.
Over 50,000 large companies in the EU will be required to report on sustainability information from 2024 respectively 2025 – depending on the CSRD criteria they meet. SMEs and other companies will follow.
To ensure reporting in due time, companies falling under the CSRD need to invest time now and set up or optimize their data collection and reporting process.
Together with our partner Envoria, the SaaS specialist in sustainability reporting, we will• summarize the implementation of the CSRD,
• discuss potential challenges in the reporting and publication process,
• exchange first experiences in practical application, and
• provide you with possible solutions.
Speaker: Philipp Stampfuß (Managing Director, AMANA), Sven Schubert (Co-Founder & CEO, Envoria)
IFRS 16 in the GLC - Series for Users and Interested People: AMANAIntelligence - Review in the leasing process made easy
In our focus webinar on the topic of BI, we would like to show how BI can simplify the review in the leasing process and save time. As for every process in the company, an appropriate ICS must be implemented for the leasing process. This includes various coordination and review activities of data in the leasing tool. In this context, BI can be an exciting tool to carry out the review more efficiently and with increased quality.
The GlobalLeaseCenter is a convenient standard solution from AMANA to effectively and efficiently lease acounting according to IFRS 16. The software product is accompanied by a professional and technically experienced team of consultants, in which the knowledge about the product and the processes surrounding the product are bundled and made available to you.
Referents: Eva-Maria Kuhlmann
Disclosure Management SmartNotes: End-to-end process to the ESEF and ESG annual report
Our Disclosure Management SmartNotes increases the efficiency in the creation of annual reports and iXBRL reports and helps you to implement the ESEF requirements. Work with SmartNotes from the first data import, through the input of corrections, to the publication of the annual report in a print-ready layout without media discontinuity. Our Disclosure Management System relieves you of the manual work steps so that you can concentrate on essential content.
Referents: Björn Bielesch and Nina Schüller
IFRS 16 in the GLC - Series for Users and Interested People: AMANAIntelligence - Forecasting for leasing made easy
In our webinar on the subject of BI, we would like to show how BI can simplify the forecast for leasing and save time.
The GlobalLeaseCenter is a convenient standard solution from AMANA to effectively and efficiently lease acounting according to IFRS 16. The software product is accompanied by a professional and technically experienced team of consultants, in which the knowledge about the product and the processes surrounding the product are bundled and made available to you.
Referents: Eva-Maria Kuhlmann
XHTML Table Tags – How to fulfill the auditors requirement of having table tags in PDF-based documents
In some countries auditors require that tables in ESEF reports have to be marked up as XHTML table tags, meaning that that each row and column of a table that is part of a text block tagging in the attachment is explicitly tagged with an XHTML element.
For PDF based reports this is a challenge because of their print-centric layout. It would in fact require companies to base their report for example on Word and thereby lose critical layout capabilities.
AMANA did however, find a solution to this challenge which enables you to keep working with PDF files as a source for your ESEF report while at the same time fulfilling the auditors requirements about XHTML table tags.
In our webinar, we will talk in more detail about this requirement and show you how you can use the XBRL Tagger to create a report that both looks the way you want and still satisfies your auditor.
Referents: Janis Steinmann
ESG Reporting with AMANA: Automated Data Flow and integrated XBRL Tagging
The current European Sustainability Reporting Standard (ESRS) exposure draft, as published by EFRAG defines 178 sector-agnostic disclosure requirements, sector specific disclosure requirements are not yet defined. Those disclosure requirements describe hundreds of single data points and narrative disclosures that must be reported in a human-readable report, as well as in a digital and machine-readable format.
It includes data points on water and energy consumption, Greenhouse Gas emissions, pollution, biodiversity as well as many social aspects like disclosures on workforce. Policies, targets, and specific action plans will have to be reported in order to see how companies are going to face the challenges of a changing world and climate change.
In our webinar, we are going to summarize the challenges regarding the actual reporting and publication process, which includes:
• How to calculate, collect and consolidate the required data points by using solutions from AMANA partners.
• Using disclosure management software to be able to work collaboratively on the sustainability statements.
• Automate the data flow from various sources into management reports in order to eliminate manual and error-prone process as well as to optimize the last-mile reporting process.
• Options how to handle formatting and the production of glossy and ready-to-print reports in Word or InDesign as well as online reports.
• Digital tagging of sustainability and financial statements with the ESRS or ISSB XBRL taxonomy.
• Auditing and publication of the final report.
Referents: Richard Bössen and Philipp Stampfuß
How to audit the upcoming ESEF text block taggings
The ESEF regulation mandates listed companies to publish their annual financial reports in iXBRL digital format. In many EU countries, the ESEF reports also have to be audited or reviewed. The main challenge of auditing iXBRL reports is the technical validation, checking of tags selected by the report creator and the comparison of the traditional format (PDF) with the new iXBRL format. Auditing iXBRL reports requires new knowledge for auditors and can only be done with a proper certified XBRL software.
Starting from 2022, the full notes to the financial statements have to be tagged with text block taggings, additionally to the main financial statements, which is a new challenge for preparers and audit firms. Various technical and business details have to be considered as part of the assurance.
In the webinar we explain the new rule, and show how the XBRL Auditor can used to face the challenge, and which new features have been implemented in the version 1.2 to facilitate the textblock tagging assurance.
The AMANA XBRL Auditor was developed on the basis of our many years of experience from hundreds of XBRL projects with a clear focus on the review and audit of iXBRL reports according to the ESEF regulation. Moreover, our software is already successfully used by numerous audit firms including Big Four firms .In our webinar, we will show you the features and benefits of the XBRL Auditor when auditing ESEF reports, as well as our experiences from the first year of ESEF.
Referents: Richard Bössen and Nina Schüller
How to create an ESEF reporting in no time - Plug & Play with the AMANA XBRL Tagger
In our webinar, we will present our solution outlining the simple handling of report production and the automated tagging support feature based on artificial intelligence (AI) developed by AMANA, which significantly simplifies the creation of ESEF reports.
Referents: Nina Schüller and Janis Steinmann
How to solve ESG reporting and publication challenges with AMANA & Envoria
The latest European Sustainability Reporting Standard (ESRS) exposure drafts defining sector-agnostic disclosure requirements were published in November. The new drafts significantly reduce the number of disclosure requirements and data points. However, this reduction should not obscure the burden that continues to be placed on companies. 84 disclosure requirements and 1,144 quantitative and qualitative data points still must be reported.
To ensure reporting in accordance with the ESRS in due time, companies required to disclose ESRS information need to invest time now and set up or optimize their data collection and reporting process.
Together with our partner Envoria, SaaS specialist in sustainability reporting, we summarize the challenges regarding the reporting and publication process, which includes:
● How to understand the regulatory objectives
● How to calculate, collect, and consolidate required data points
● How to work collaboratively on sustainability statements using supportive tools
● How to automate the data flow from various sources into management reports
● How to digitally tag stainability and financial statements with the ESRS or ISSB XBRL taxonomy
● How to handle formatting and the production of glossy and ready-to-print reports
● How to implement the audit and publication of the final report
Referents: Philipp Stampfuß (Managing Director, AMANA) und Sven Schubert (Co-Founder & CEO, Envoria)
ESEF text block tagging - Lessons Learned
According to the new ESEF Regulation, the tagging scope for the preparation of ESEF annual reports ending after 01.01.2022 has been significantly increased. The full notes to the financial statements have to be tagged with text block taggings, additionally to the main financial statements, which is a new challenge for preparers and audit firms.
In our webinar, the experiences from the first year of ESEF implementation will be presented, especially regarding text block tagging. In addition to the technical requirements, we will also discuss practical examples of our intelligent software solution SmartNotes.
Referents: Paul Beckmann and Catalina Ibanez