System Options Configuration in Lease Accounting
we are configuring Lease Accounting for a multinational company which is spread across the Globe , HQ in USA and configured with Primary and Secondary Ledger for each region.I need to know what is the best practice in terms of configuration of Primary Accoutning Standard and Secondary Accoutning Standard in Lease Accounting.
Should this process be followed or something else
1. Primary Accoutning Standard should be ASC 842 if PL Accoutning Method is US GAAP
2. Secondary Accounting Standard should be IFRS16 is SL Accounting Method is IFRS / Secondary Accounting Standard should be null if SL Accounting Method is US GAAP +Adjustments