Suspending Residual Earnings on Sold Contract in ASPIRE When a lease is sold to a funding source with the residual retained, FASB ASC 860 states that the lessor cannot recognize earnings on the residual until maturity ...
See attached document for complete details. The attached document illustrates the processing of a mid-term asset return to inventory. Two assets will be returned from a contract mid-term, with one asset then being added to a new contract and the ...
See attached document for more details. ADB: Actual Daily Balance. A type of loan where the date of payment received affects the amount of interest paid each period. Earnings schedule of interest set at time of booking The date of payment received ...
See the attached document for complete details. The purpose of the attached How to Guide is to show a generic example of how one can go about adding a contract to ASPIRE, and subsequently how to book that contract. Note: This document outlines only ...
See attached document for complete details. Attached is a guide explaining how Additional Term Allowance (configured at the Finance Program level) determines the maximum number of months than can be added to a contract term before triggering a credit ...