Use Square Footage for Partial Termination of Lease (ASC842)
(Doc ID 2560422.1)
Last updated on AUGUST 02, 2019
Applies to:Oracle Property Manager - Version 12.2.6 and later
Information in this document applies to any platform.
Currently, it is not mandatory for user to put in the Square footage in the property manager when they create a lease, however Sq Ft information is needed in the system so that system can pick up the percentage of reduction in footage to calculate the accounting impact.
Thus when reducing the space of a leased asset (for example, reduces the square foot of a leased building), how does Oracle handle the calculations accordingly?
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