New Footnote Dislosure Reporting for ASC 842 Lease Accounting
The PeopleSoft team has done a great job introducing lease accounting for ASC 842 into Asset Management as part of Image 27. As many of you know, the new accounting standard to move leased assets to the balance sheet is required for pubic companies on 1/1/2019, and for private companies on 1/1/2020. I am in the process of implementing this functionality for several clients. I'm running into a roadblock regarding footnote disclosure reporting. I would like to propose that PeopleSoft revise their current Footnote Disclosre reporting to comply with ASC 842. This will save our clients time and money over