Competence
Prophix One Lease Management
The Prophix One Platform introduces a purpose-built lease accounting solution, powered by Cradle, a lease accounting expert. In recent years, companies have been required to comply with standards like IFRS 16 (International Financial Reporting Standards) and ASC 842 (US GAAP). Starting in January 2026, FRS 102 will be amended for UK GAAP, adopting a similar on-balance sheet lease accounting model.