10 Questions
What is the name of the contract that can be saved after adding the renewal?
C2 General Contract Extension with Renewal
What option can be used to add a more detailed notice to the contract?
Notice line under the Term tab
What is the purpose of the Standard Notice Procedure option?
To simulate the end of the contract by choosing a standard notice procedure and notice period
What is the purpose of the Individual Notice Procedure option?
To create custom notice rules
What is the purpose of the Create notice rule option?
To import rules already defined in Standard renewal rules and change them if required
What type of notice rule is used for recurring notices on a regular duration?
Individual Period Regulation
What type of notice rule is used for fixed and special notice dates?
Individual Deadline Regulation
What is the requirement when extending an IFRS16 relevant contract and the PLED date needs to be changed?
Create a time slice under Valuation Parameter
What should be done after creating a new time slice and entering the correct PLED date?
Refresh the Interest rate and Complete Valuation
What is an important note to remember when working with time slices?
Never change anything on the already existing posted time slice
Test your knowledge of lease accounting concepts, including early termination, contract extensions, and FAQs. Learn how to terminate contracts in single and mass ways, and review key takeaways.
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