Opinion on a 'Date pattern' change

 

We needed your opinion on a 'Date pattern' change that would need to be effected for an individual company from the current code of 'R' (Jan-Dec) to 'H' (June-May). This would mean that the current fiscal year would get extended to a 17 period FY (Jan'15 until May'16). Based on the documents that we could locate, we have the below approach in mind : 

1) Carry out FY 15 year end close under Date Pattern 'R' as normal

2) Create a new Date Pattern to account for the short fiscal year Jan'16-May'16. Assign this date pattern to this Company. 

3) Set-up a new Company with Date Pattern of 'H' ( (June-May) and transfer the balances to the new Company effective June'16. The setting up of new Company is required in order to ensure that the FY (16 in this case) doesn't clash between the short year (Jan-May) and the new date pattern (June-May) considering that the FY in both the cases would be the same.