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Add-on module to address new ASU-842 lease requirements

  • 1.  Add-on module to address new ASU-842 lease requirements

    TOP CONTRIBUTOR
    Posted 18 days ago

    A new standard is being instituted for both public and private entities  that have leases. The new ASC 842 classify leases into financial leases (capital leases under ASC 840) and operating leases. Is there a new NAV add-on module to address this issue? We are in the progress of implementing NAV 2018.

    Thanks



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    Dennis Mahon
    NAV Implementation Mgr
    CKS Packaging
    Atlanta, GA 30336
    609-204-2511
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  • 2.  RE: Add-on module to address new ASU-842 lease requirements

    TOP CONTRIBUTOR
    Posted 17 days ago
    Denis,

    Not sure why a Nav addon would be needed to process this in most cases.  IF you had a ton of leased real estate it would be good to add some functionality to Fixed Assets but in the end it's just a assets with an associated mortgage.  What form would the module take?

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    Michael Carr
    VP , Finance
    Philadelphia Scientific LLC
    Montgomeryville PA
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  • 3.  RE: Add-on module to address new ASU-842 lease requirements

    TOP CONTRIBUTOR
    Posted 17 days ago
    Thanks Michael, I realized this after posting my question. I jumped when asked about it by our new controller without thinking. Thanks for your reply




    Sent from my T-Mobile 4G LTE Device





  • 4.  RE: Add-on module to address new ASU-842 lease requirements

    TOP CONTRIBUTOR
    Posted 17 days ago

    Oddly enough , I had just finished a CPE course on the new pronouncement.

     

    Michael Carr

    Vice President, Finance

    Philadelphia Scientific LLC

    207 Progress Drive

    Montgomeryville, PA 18936

    Ph:215-616-0393 x137

    Fx: 215-525-2775

    Cell: 267-640-5150