ELA: How Do We Change the Life of a Leased Asset if We Have Purchase Options ?
(Doc ID 2789269.1)
Last updated on APRIL 04, 2023
Applies to:
PeopleSoft Enterprise FIN Lease Administration - Version 9.2 to 9.2 [Release 9]Information in this document applies to any platform.
Goal
We have an asset which we will purchase at the end of its lease.
Need to change life of asset to be different than lease term.
A leased asset is depreciated over the shorter of the lease term or useful life EXCEPT if the lease transfers ownership or a purchase option is reasonably certain to be exercised. Under those circumstances, the lessee depreciates the leased asset over the useful life. The functionality works the same for FASB, GASB, and IASB.
Solution
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In this Document
| Goal |
| Solution |