amortization schedule

An amortization schedule documents the changes in depreciation expense and interest expense on the lease over time. For each time period (such as month or quarter), the amortization schedule documents the period's amortization amount and the resulting changes in ROU Asset Value and Lease Liability. From the amortization schedule, the Lease Classification Wizard determines if the lease is classified as an operating lease or a finance lease.

When you complete the various pages of the Lease Classification Wizard, the Wizard examines the lease data, calculates the amortization schedule, and stores the schedule in the Lease Amortization Schedule table (ls_amort_sched). The table contains a record for each time period and documents the ROU asset amortization, ROU Asset Ending Balance, Interest Accretion, Net Rent, and Lease Liability Ending Balance.

The Lease Manager can review the Lease Amortization Schedule table to understand how a lease classification was derived. For leases with approved classifications, the stakeholder reports summarize the amortization data from the Lease Amortization Schedule table.

The same lease will often have multiple amortization schedules to record different schedules of costs. The FASB Review Status (fasb_review_status) field of the Lease Amortization Schedule table holds values of Legacy, Pending, Approved, Archived to distinguish the records for the different schedules.