FASB (IASB) Asset and Liability Balance Report

Shows snapshot balances as of the end of a stated period, based upon currently generated FASB (IASB) schedules. By default, these are grouped by Real Estate and Equipment Leases, and by Finance and Operating lease classifications, showing the sums for each group. The report shows you the asset and liability balances including short-term and long-term liability balances for the reporting period you select.

When the Is Translation flag is selected on a contract, the Asset and Liability Balance report has the following behavior:

• The Asset Balance will be converted according to the Translation foreign currency conversion settings.

• This conversion will be performed using the spot rate.

  The spot rate is also known as the “End of Period” or “End of Balance” rate.

Features:

• Report Type: Entity.

• Default View Type: Spreadsheet report.

• Accounting Reference / Guidance: ASC 842-20-45-1

• Disclosure Reporting Requirements:

  • FASB: Operating Lease ROU Assets, Operating Lease Liabilities: Lease Liabilities (LL) split between short-term LL and long-term LL

  • IASB: Finance Lease ROU Assets, Finance Lease Liabilities: Lease liabilities (LL) split between short-term LL and long-term LL

• Runtime Filters: Reporting Period.