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Termination accounting of impaired asset
Organization Name (Required - If you are an Oracle Partner, please provide the organization you are logging the idea on behalf of): OCBC
Description (Required): As per current design while Impairing Lease Asset in Lease Accounting Module, Impairment cost gets charged to account combination defined against "Gain or Loss Account" but as per statutory requirement we need to report Impairment of ROU separately so we would like to have separate account combination for Impairment.
As currently system is not allowing, we have created SLA rules for impairment accounting, due to that while terminating the asset Impairment Allowance Balance Sheet account is not getting knocked off.
Additionally, as per statutory requirement we would really expect to have Impairment and Revaluation of ROU/Lease Liability functionality in Lease Accounting Module.
Use Case and Business Need (Required): As per statutory requirement.
Comments
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I am having a similar issue during the termination of a lease. Have you received any help on this?
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