Real Property / Leases / Lease Portfolio / Extension for Lease Accounting

Entering Leases and Lease Right-of-Use Options

To get started with lease management and FASB/IASB lease classification, you must enter your leases. You can do so using the Portfolio Edit Wizard or the Lease Portfolio Console. Both are available on the Navigator at Real Property / Leases / Lease Portfolio.

The following procedures document how to initially enter leases and lease right-of-use options using the Lease Portfolio Console:

• Define the Buildings for which you Track Leases
• Record a Gross Lease
• Record Initial Direct Costs

• Record a Residual Value Guarantee
• Account of a Lease that is Classified in the Middle of its Term

• Record a Tenant Improvement Option
• Record a Lease Renewal Option
• Record a Lease Buy-out Option
• Record a Transition Lease (FASB 840 and 842)
• Record a Transition Lease (IFRS 16)

Note: Once your options and leases are entered using the Lease Portfolio Console, you may find that you need to edit them. If you edit them using the Lease Portfolio Console and the lease has a FASB/IASB Review Status of Approved, the system sets the FASB/IASB Review Status to "Under Re-evaluation" and presents a message stating so . It also logs this change in the Lease Classification Audit Log table.