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Why is a lease able to be classified as operating under IFRS16 in Oracle Fusion Lease Accounting?

edited Jan 5, 2024 3:30AM in Lease Accounting 2 comments

Summary:

Reviewing the product and the implications of the new accounting standards supported in FLA to the lease accounting classification itself; can we clarify what would be the difference between classifying a lease as finance or as operating under the IFRS16 accounting standard? Based on this slide in MyLearn, would it be the same? No accounting differences at all? What is the implication of this to revenue leases currently as all revenue leases are under operating classification?

Additionally, how would it work accounting-wise for ASC842?


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