Asset Retirement Behavior Accross Years of Tax Books
Hello,
For our Japan businesses, we plan to have a Japanese "Corporate" FA book that uses the Japanese Fiscal Year calendar (year ends April March 31st and begins April 1st). To support USGAAP requirements, we plan to have a Japanese "Tax" FA book assigned to the Corporate book with the US Standard Calendar (year ends December 31st and begins January 1st).
We are aware that assets cannot be retired across years in a single book, however, we are uncertain what the behavior will be when copied from a Corp book to a Tax book via Periodic Mass Copy.
Let's say an asset was retired January 1, 2018, in the Japanese Corporate FA book. For that FA book, it is not the end or beginning of a new year. When the periodic mass copy is performed to the USGAAP book, will the retirement fail because the USGAAP book has identified January 1, 2018 as a "new" calendar year?