RAR 1.2 account determination for contract asset and liability as current vs long term

[Former Member]

We have come across a requirement that revenue a contract Asset/Liability be accounted and reported based on the current vs. long term basis. For example, all A/L that is less than 12 months old is current and should be evaluated/reported as current on the balance sheet. All remaining A/L should be evaluated/reported as long term. This is consistent with the ASC606/IFR15 regulation. However, RAR1.2 does not seem to have the functionality to either split account determination based on the date/age of the A/L nor to create any sort of re-evaluation based on the same.

Please let me know if there are solutions to this or if it is a gap and a custom report/program should be written to accommodate.

[former_member214674]

Hi Alex, Did you manage to resolve this issue? There is a BADI(FARR_POSTING_ENHANCMENT_A) to influence standard fields during posting. see if this will help!

Thanks

Abhinay