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KPMG Executive Briefing:

KLPM - TFRS16 Software Solution

TFRS 16 will become effective on January 1, 2020. Under TFRS 16, a lessee is required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. To comply with TFRS 16, companies will need to ensure that all lease transactions are accounted for properly. In the case where a company has a large volume of lease transactions, software solutions will become more relevant and helpful to a company’s financial reporting process as manual calculations and adjustments are more exposed to human errors and time consuming.   

KPMG would like to introduce KPMG Lease Portfolio Manager (KLPM) which is our TFRS 16 software solution to assist your company to streamline lease calculations and accounting recordings. Several leading companies have successfully implemented TFRS 16 using KLPM to deal with large volumes of lease transactions, standardize calculations and accounting records and produce management reports. In addition, KLPM has reporting functions that can assist your management to review and monitor the financial results from lease transactions under TFRS 16 efficiently.

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