Asset Lifecycle Management - PSFT (MOSC)

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Lease Accounting for IFRS16

edited Jul 1, 2018 5:02AM in Asset Lifecycle Management - PSFT (MOSC) 1 commentAnswered

Hi All,

As you are already aware that as per the new IFRS16 standards organisations need to start accounting the Leases.

In PeopleSoft Finance Oracle introduced Lease Administration module in the latest image, my question here is that as per IFRS16 we just need to account the leases (Leased Assets?), so do we really need Lease Administration if we are not using Lease payments integration?

If we start using the Leased Assets functionality within the Asset management module (which will allow the Accounting) will that be enough or we should use the Lease Administration module as well even if the organisation is not using the Lease Payments integration with AP?

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