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Lease Accounting-ASC842-Purchase Option-Amortization

in Lease Accounting 1 comment

Summary:

Implementing Lease Accounting module-Finance Lease-Purchase Option-as per ASC 842 we need to amortize Asset over the Useful Life of Asset but in Oracle we don't have an option to key in the Asset End Date greater than the Lease End Date. Hence, in Oracle system will amortize the Asset over the Lease Term instead of Asset Useful Life. This is clearly a deviation of ASC 842 guideline. So want to check with Oracle Product team on the best pratices

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