We constantly get questions from companies we are in contact with, whether there are templates for the Transparency Act as well as guides for handling the Transparency Act. We at Share Control have therefore spent a lot of time developing material such as templates and guides, to make it easier for our customers to enforce … Read more
In an increasingly digital world, there are still companies that believe that storing contracts on different platforms and on their own machines gives the best control. This is a claim we want to disprove in this article by showing some of the benefits you get from digitizing contract management. Why digitize contract management? Have you … Read more
What is the Transparency Act? The Transparency Act is a Norwegian law that entered into force on 1 July 2022. The law obliges medium-sized and larger businesses to map the risk of human rights violations throughout their supply chain. The law also requires the businesses to report on the findings and to rectify any damage. … Read more
This article was published in Finansavisen 1. November 2022. New system for the Transparency Act Briefly about the Norwegian Transparency Act The Transparency Act is a new law that entered into force on 1. July 2023. It obliges companies covered by the law to carry out due diligence assessments of their suppliers with regard to … Read more
What are the total costs and liabilities of your contracts? Contracts are often managed using many different spreadsheets, in different departments, with no indication of where the latest version of the contract can be found. What are the total costs and obligations of the contracts? Contracts cost a lot of time and money to draw … Read more
As a new chief financial officer (CFO), you will most often not spend your time where it is most needed, according to a McKinsey survey of CFOs. Finance managers express that most of the first hundred days they spent on budgeting, management reporting and financial reporting. In contrast, they believe that the most crucial activities … Read more
Do you still use Microsoft Excel or similar spreadsheets to manage your leases in accordance with IFRS 16? Do you still use Microsoft Excel or similar spreadsheets to manage your leases in accordance with IFRS 16? IFRS 16 solution vs Excel With a specialized IFRS 16 solution such as ShareControl IFRS 16, you don’t just … Read more
Contract management is proving to be a very time-consuming element of the business, which facilitates the need for an efficient and automated contract management system. What is contract management? Contract administration or follow-up of contracts concluded with customers, suppliers, partners or employees. In contract management, the process of managing contract creation, execution and analysis to … Read more
Subleases Compared with IAS 17, IFRS 16 changes how an intermediate lessor assesses whether a sublease is a finance lease. IFRS 16 requires the sublease to be classified by reference to the right-of-use asset arising from the head lease, rather than by reference to the underlying asset (IFRS 16.B58(b)). The exception is a head lease … Read more
Calculating lease reassessments and modifications under IFRS 16 In an IFRS 16 calculation, it is important to distinguish between reassessments and modifications to account for changes correctly. Reassessments cover a change in the assessment of whether the lessee is reasonably certain to exercise (or not to exercise) an extension, termination or purchase option in the … Read more
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