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The Function Fixed Assets - Manage Leases Does Not Meet 100% The Norm IFRS16 (Doc ID 2525861.1)

Last updated on DECEMBER 10, 2019

Applies to:

Oracle Fusion Assets Cloud Service - Version 11.13.19.01.0 and later
Information in this document applies to any platform.

Goal

The "Fixed Assets - Manage Leases" option does not apply the IFRS16 standard when the original contract of the "Leases" is in a currency different from the local one. (foreign currency)

1. According to IFRS16 the lease liability must be calculated according to the TRM of the period corresponding to the "Periodic lease payment"
2. The cost of the leasing asset must be calculated with the TRM of the day of the beginning of the "Leases".
3. According to the norm IFRS16, the cost of the asset leasing is calculated in local currency and the liabilities leasing in the source currency of the leasing (foreign currency)
 

Solution

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In this Document
Goal
Solution
References


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