Asset Lifecycle Management - PSFT (MOSC)

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Straight Line Schedule in 842 world

edited Dec 20, 2019 11:57AM in Asset Lifecycle Management - PSFT (MOSC) 5 commentsAnswered

Hi All,

I have been testing transition my lease from 840 to 842 accounting standards and have an issue when the SL is regenerated. The lease commencement date is 07/01/2016 and the termination date is 04/08/2034. For testing purposes i am using 11/1/2019 as the transition date. When I regenerate the SL schedule, the RE_FASB_GEN app engine only creates the schedule from 11/01/2019 to 04/08/2034. The correct time frame should be 07/01/2016 to 04/08/2034.

Has anyone else scene this issue? and if so, how did you fix it?

Also the RE_FASB_GEN app engine is not prorating the last month. It should a partial month value of .27 but creates the schedule as if it was 4/30/2034 and date. Has anyone scene this?

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