The Accounting Lines Have Incorrect Impairment Amount For A Retired Lease Asset. (Doc ID 2579300.1)

Last updated on FEBRUARY 08, 2024

Applies to:

Symptoms

The Lease asset was impaired for $400,000 before it was retired, however the accounting entries shows a $700,000 impairment.
 

The issue can be reproduced at will with the following steps:
1. Create asset, run depreciation
2. Impair asset for $400,000, run depreciation
3. Retire asset, run depreciation
4. Run Create Accounting

Changes

Cause

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