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Activities Proposed in the Lessees SAP Gpo  Form

Activities Proposed in the Lessees SAP Gpo Form

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hello everyone in today's session we are going to discuss IFRS 16 Lees and its Accounting in sap and the basic configurations required for IFRS 16 in sap uh let's begin with understanding the basic journal entries required under IFR 16 that is leases so the first entry that we required is for asset capitalization as under uh leases uh IFRS says that uh that for every lease we need to capitalize ass set so the first entry is we will debit the asset account that is roou that is right to asset account and uh similarly credit the asset clearing account now the clearing account is for uh we maintain it for sap but in reality what we do is debit asset account and credit lease liability account this asset is debited with the present value of uh the lease payment over the period we are making fine the second journal entry is of lease liability posting so the second journal entry would be uh crediting our lease liability account while debiting the asset clearing account so autom

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