Thank you for supporting the Cloud Customer Connect Community in 2024. It's a gift to work with you!

Look back
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

In case of Forex Lease- Net ROU is recalculating with Amendment Commencement Date Effective Rate

in Lease Accounting 2 comments

Summary:


In case of Forex Lease- Net ROU is recalculating with Amendment Commencement Date Effective Rate

Content (please ensure you mask any confidential information):

We have lease booked with start date as 01-Jan-2020 with Exchange Rate of 4 for next 10 years. Now the lease is amended on 01-May-2024 for increase of payment amount from 10,000 to 12,000. System is adding new ROU and lease liability on 01-May-24 (Exchange Rate Effective is 5) for the incremental 2000 payments.

Also in addition to the above system is recalculating Remaining Net ROU Balance on 01-May-24 by crediting with Exch Rate 4 and Debiting with 5 and differe nce parking in Forex Exchange Gain/loss.

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!