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IFRS 16 in Fixed Assets Lease

in Assets 1 comment

Summary:

IFRS 16 implementation in FA module - Oracle cloud

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Hi All,

Thank you for your continued support.

I am writing to inquire about the integration of IFRS 16 leases within the Oracle FA module, specifically for managing lease assets.

Currently, our client utilizes a segmented approach for IFRS 16 lease accounting.
- Operating leases are processed through the FA module using the IFRS 16 operating lease functionality.
- Finance leases are managed through the AP to FA transfer process with IPROC.

This segmented approach is not ideal for the client, who desires a more streamlined solution. Ideally, they would like to manage all asset leases (operating and finance) within the FA module's "Manage Leases" page.

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