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Questions Oracle Lease Assets on How it Supports IFRS16 Guidelines (Doc ID 2499062.1)

Last updated on NOVEMBER 27, 2019

Applies to:

Oracle Fusion Assets Cloud Service - Version 11.13.18.10.0 and later
Information in this document applies to any platform.

Goal

We are looking to implement Oracle Leased assets in our system but we need to be sure whether it is as per IFRS 16 guidelines effective from JAN-19. We have the below questions regarding the functionality. Could you please address the same.

1. How should we insert normal one-time payments?
For example the ones that are not recurring periodic lease payments but that still need to be included in a lease liability
and do not fall under any of the categories above currently available under one-time payments options?
- Advanced lease payment
- Initial direct costs
- Purchase price
- Residual value
- Termination penalty

2. Lease incentives:
How should we insert lease incentives in this tool?
Many lease contracts offer lease incentives, for example first 3 months for no payment or certain months during the lease period for no payment, etc. Should we simply insert them as 0 value payments?
Does that work in the tool?
 

Solution

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Goal
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