As a part of new IFRS & ASC842 lease accounting requirement enhancement, we have released a new Cumulative patch.  Patch Details are

12.1.3 – 33616383:R12.PN.B

12.2.X – 34534575:R12.PN.C

The above cumulative patch not only has few critical bug fixes, it also has a major product enhancement being included in it. The major enhancement that are released as a part of this cumulative patch is

1.Property Lease Versioning  :

Property Manager introduces enhanced features to address customer’s requirements towards versioning of lease, simulations with and without rent increases, stop and review, tracing of lease history, and multi-level AME workflow for amendments in release 12.2.12. Lease Versioning feature uptake involves significant architectural changes.

Scope
The features delivered as part of this enhancement is available for all property expense leases belonging to an operating unit that has transitioned to the compliance accounting solution.
The System allows users to use the multi-level AME workflow while creating all types of property and equipment leases.

Features:

The following features of Oracle Property Manager is added or changed in Property Manager:
• Lease Version
• Simulations and Reviews through multiple iterations
• Lease Amendments over multiple sessions and discard
• Lease History Tracing
• Automatic Generation and Display of Schedules and Lease Detail Report
• Inclusion of Rent Increase balances during Booking
• Rent Increase Amendment
• Amendment without a discount rate change
• Multi-Level AME workflow for lease authoring and amendment
• Lease Detail Report Enhancement

2.Future Payment Term Deletion  :

When terminations are processed in Property Manager, future dated payment schedule lines are removed from the system and will not show in standard reporting, payment schedule lines form or in the database. This is an audit trail issue that needs to be rectified so that we retain a complete history in the PN Module.

As per new functionality all lines on a terminated lease should remain on the lease record and the Lease Details Report should show how the termination impacted the overall calculation.

For more details on the latest CU and updates regarding IFRS please refer Doc id: 2482062.2