Lease Accounting standard

Hello

As per the accounting standards, we need two different accounting approach for US GAAP and IFRS.

Example : US GAAP asking for accounting of Operating and Finance Lease separately whereas IFRS is asking for all the Lease accounting should be Finance Lease.

we need to comply with both US GAAP and IFRS, so once the Lease is created in Leasing module, we expect two set of accounting entries to meet with Accounting Standards.

However in Peoplesoft

"You can only configure one accounting guidance (FASB, IASB, or GASB) per BU. For example, a single lease can be measured and recognized under FASB or IASB, but not FASB and IASB."