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FAQ -Property Manager IFRS Compliance and Equipment Lease (Doc ID 2459799.1)

Last updated on JANUARY 31, 2024

Applies to:

Oracle Property Manager - Version 12.1.3 and later
Information in this document applies to any platform.


 This Document tries to explain the most Frequently Asked Questions with regards to IFRS and Equipment related functionality

Questions and Answers

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In this Document
Questions and Answers
 1. Do we need separate License for IFRS functionality in Property manager and Equipment lease Functionality ?
 2. How to configure the SLA setup to generate the accounting events for Property Manager & equipment lease ?
 3. Which document to refer for understanding / implementing the IFRS and Equipment lease functionality ?
 4. How initial measurements under IFRS16 happens on 01-Jan-2019 when IFRS16 is adapted. Will user has to pass manual journals to record initial measurement value or the system will generate it automatically once we update lease as finance lease and discount rates are updated?
 5. How to define the Discount Rate Index as per changes for new IFRS 16 and ASC 842(US GAAP) rules in regards to Property Manager  ?
 6. Is IFRS functionality supported on 12.1.2 and other prior versions ?
 7. Do we have any patch which provides the seeded SLA setup / rule for Property manager IFRS Accounting events ?
 8. Will system generate the normalization entries even after migrating to IFRS regime ?
 9. Do we have any separate fields at lease level to capture the Compliance related accounting ?
 10. What is the expected behaviour when a lease accounting method is changed from Operating to Finance Leases ?
 11. Is it possible to use equipment lease functionality without using the Oracle inventory Module ?
 12. When a lease is created from backdated commencement date, do we have any functionality to generate the booking event with the ROU and liability balances of previous period ?
 13. How to generate / split the accounting for Long term and short term liability in Property manager ?
 14. Can we enter different Interest Index to different payment terms in a single lease ?
 15. How to open and close periods in property manager Property Manager ?
 16. How to use rent escalation functionality in equipment lease ?
 17. Is there WebADI to upload lease contracts in Oracle Property Manager ?

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