New features in IBM TRIRIGA 10.5.1
IBM® TRIRIGA® 10.5.1 includes various enhancements for lease accounting and introduces a new user interface for the Gantt scheduler.
Lease accounting
IBM TRIRIGA Real Estate Manager enhances IBM TRIRIGA Real Estate Manager lease accounting processes to accelerate compliance with the final lease accounting standards announced by FASB in February 2016 and IASB in January 2016. TRIRIGA Real Estate Manager automates the classification of real estate and asset leases, previously known as Type A and Type B in previous drafts of the standard, to Finance and Operating respectively, and then manages the amortization and generates schedules for both types. TRIRIGA Real Estate Manager now includes processes related to the adoption and two-year look-back date that are described in the finalized standards for use after corporate accounting policies and decisions for when to adopt the new standards are complete. A user with the role and security access of TRIRIGA Real Estate Manager Lease Accountant can retroactively generate accounting schedules for the look-back period as defined in new Application Settings as required according to the standards. New features were added to TRIRIGA Real Estate Manager to support multinational organizations that manage leases in the United States as well as internationally with both financial and/or operating schedules generated to comply with corporate accounting and local reporting requirements. In addition to the new setup and initial adoption processes, further enhancements were made for the full lifecycle of changes for lease amendments, reassessments, and the modifications that impact accounting schedules. In addition, TRIRIGA Real Estate Manager Real Estate Manager now provides a predefined dataset (query) of lease data that can be used IBM Watson Analytics for an additional subscription to gain decision-making insights.
- Lease classification Operating and Finance changes
- Lease treatment calculation changes and the addition of an override feature
- IFRS re-measurement logic
- Review assumptions enhancements for fair market value
- Finance/operating schedule calculations changes
- Finance/operating schedule enhancements for retail calendars
- Initial adoption, look-back period support, and new Copy & Link feature
- Multinational lease accounting support
- Metric reports / chart enhancements
Documentation related to the FASB-IASB changes and updated best practices for lease accounting with IBM TRIRIGA are included in the IBM TRIRIGA Lease Accounting wiki. Documentation included in the IBM Knowledge Center is focused on the current accounting standards.
New Gantt scheduler
The Gantt scheduler has been replaced with a new and improved user interface. The Gantt scheduler is in the Project Tasks Gantt section of the Capital Project, Facilities Project, and Real Estate Transaction Plan forms.
For information on the new Gantt scheduler, see Introduction to Gantt Scheduler in the IBM TRIRIGA wiki.
