What to consider when migrating existing operating leases in Fusion Leases under FASB requirements
(Doc ID 2492784.1)
Last updated on MAY 06, 2019
Applies to:Oracle Fusion Assets Cloud Service - Version 22.214.171.124.0 and later
Information in this document applies to any platform.
With regards to FASB standards, the Fusion Lease functionality is based on the new FASB standards from Topic 842, which imply capitalizing operating leases effective as of Jan-19.
Previous FASB requirements did not oblige entities to book operating leases as fixed assets.
Below points need to be considered when converting already existing operating leases into Oracle Fusion Assets.
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