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Scope Decrease As Lease Modification Results In Gain And Loss (Doc ID 2977576.1)

Last updated on OCTOBER 19, 2023

Applies to:

Oracle Fusion Lease Accounting - Version 11.13.23.07.0 and later
Information in this document applies to any platform.

Goal

Whenever there is a Scope Decrease as Lease Modification, system generates the Gain and Loss entry.
This is incorrect as per the accounting guidance ASC 842, any reduction in the tenure of the lease should be treated as a modification which does not result in immediate charge to the income statement.
 

Solution

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In this Document
Goal
Solution


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