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Effective Date: IFRS 16 is effective for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted (as long as IFRS 15 is also applied). Configuration Flag CFGTCDefaultLeaseTransitionDate must be defined.
Lease Accounting Business Rules
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| Excerpt |
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| Source Code | Bill Code | Description | TCPJ
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| MLAJ | LIABILITY | - Initial: A Credit entry of the journal; posted into a Liability-type ledger account.
- Incremental: The value of change in Lease Liability as compared to initial journal.
| | ROU_ASSET | - Initial: A Debit entry of the journal; posted into an Asset-type ledger account.
- Incremental: The value of change in Right of Use Asset as compared to initial journal.
| | BSDIFF | - Initial: A Debit entry of the journal; posted into a Retained Earning or Gain/Loss type ledger account.
- Incremental: The value of change in BSDIFF, which should be zero.
| | ACCDEP | - Initial: A Credit entry of the journal; posted into a Contra-Asset type ledger account.
- Incremental: The value of change in Accumulated Depreciation, which should be zero.
| MLAJ | | ROU_REVERSAL | Reverses the previous period's ROU that was posted, regardless of whether or not there was a lease modification in the previous period. |
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- Hire Reversal: Reverses running cost hire line items, with Hire Reversal, Hire Add Comm Reversal, Off Hire Reversal, and Off Hire Add Comm Reversal subsections.
- Service: Based on the Service Fee column on the TC Lease tab.
- Interest: Based on the Interest Rate % column on the TC Lease tab.
- Depreciation: The asset depreciation expense over time.
Lease Reporting
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