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Property Manager Compliance with IFRS 16 and ASC 842 and Statement of Direction (Doc ID 2162811.1)

Last updated on DECEMBER 04, 2019

Applies to:

Oracle Property Manager - Version 12.1 and later
Information in this document applies to any platform.

Details

This announcement is to provide a preliminary overview of the implementation plans, scope and approach to comply with the new accounting and reporting requirements for real estate tenants (IFRS 16 and ASC 842).  Contained in this announcement are:

1.  A Statement of Direction for Oracle Property Manager in response to new U.S. and International accounting standards which have been published and which impact Property Manager customers.  Originally released in July 2016, the Statement of Direction has been revised as of November 16th, 2016.  The November 16th Statement supersedes the July Statement.

2.  A presentation for customers that outlines the general product direction of Oracle Property Manager and communicates our current strategy based on our understanding of the required standards as we develop compliance solutions, August 2016.

Actions

Please review the attached PN Community threads:

1.  "PN Statement of Direction 16-Nov-16."

Comments to the Statement of Direction can be added to the associated PN Statement of Direction Community thread.

2.  "Property Manager Presentation - Compliance with IFRS & ACS v1.pptx."

Comments to the customer presentation can be added to the associated PN Compliance Presentation Community thread.

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