Configuration of Lease Accounting — Cloud Customer Connect
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Configuration of Lease Accounting

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Summary:

I have some questions surrounding the required Lease Accounting core system configurations

1.    How do the Primary (ASC842) and Secondary (IFRS16) accounting standards impact the accounting and reporting in Lease Accounting?

a.      If we configured ASC842 under Manage System Options, do we have an option to create a lease using IFRS16?

b.      If we configured ASC842 under Manage System Options, can we run reporting using IFRS16?

2.      Primary (DFS) and Secondary (DFS IFRS) ledgers and how they are integrated with Lease Accounting. If Primary Ledger is used will reporting be available in the Secondary Ledger (DFS IRFS) for foreign audits?

3.      Ability to record some leases using IFRS accounting standards to facilitate reporting on foreign audits

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