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When you use this option, the system updates the FASB91 records of the selected securities to indicate that they were processed. The system excludes processed records from use for any subsequent Apply Retrospective Amortization process. That is, you cannot recalculate retrospective amortization for the selected assets using the Apply FASB-91 Retrospective Amortization global option or using the Run Retrospective Amortization global option. This option allows you to apply retrospective amortization values for your current holdings. It does not allow you to apply retrospective amortization values towards pending transactions not yet processed by the STAR accounting engine.
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To apply FASB-91 retrospective amortization:
In Accounting Center, in the left navigation pane, click Processing & Exceptions > Global Processes > FASB-91 Retrospective Amortization > Apply FASB-91 Retrospective Amortization.
You see the Apply FASB-91 Retrospective Amortization panel.Complete the options on the Apply FASB-91 Retrospective Amortization panel.
Click Submit.
In the Show All window, you see the list of retrospective amortization records that met your criteria.Click the Select column for each row with assets for which you want to apply the retrospective earnings, so that a check mark appears for that row.
You can press CTRL + I to select all rows.Click Run Retro for the Selected Records.
The system generates a list of the records you selected for retrospective amortization processing. It displays the amortization processing options that you applied when you initially submitted the Generate FASB-91 Report Data panel, such as the Retrospective Amortization Switch value and the Earn Through Date value.
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Click Submit.
The system processes retrospective amortization for the selected assets.
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WRITERS NOTE: I do not have real data for viewing report results or processing. confirm panel behavior after Submits . Do you see loopbacks or is there another button you must press? Is the processing similar to regular retro?
Apply FASB-91 Retrospective Amortization Panel Options
A definition of the options on the Apply FASB-91 Retrospective Amortization panel follows.
Option | Tag | Description |
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Apply FASB-91 Retrospective Amortization | ||
Select Query Option | 2283 | Allows you to show/hide additional query filters. The system displays additional fields depending on your selection. Options include:
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Entity Information | ||
Entity ID | 1163 | Specifies the unique identifier of the entity. This field appears if you set the Select Query Option field to a value for one entity. |
Entity Name | 1164 | Specifies the name of the entity. This field appears if you set the Select Query Option field to a value for one |
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entity. | ||
Accounting Basis | 21 | Specifies the accounting basis for the entity. |
Entity List Name | 1104 | Specifies the name of the entity list. This field appears if you set the Select Query Option field to a value for an entity list. |
Entity List ID | 1091 | Specifies the unique identifier of the entity list. This field appears if you set the Select Query Option field to a value for an entity list. |
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Base Currency | 86 | Specifies the |
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base currency of the |
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entity. This field appears if you set the Select Query Option field to a value for one |
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entity. |
Issue |
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Information | ||
Cross Reference Type | 1234 | Specifies the |
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cross reference type associated with the security. |
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Issue Name | 961 | Specifies the name of the security. This field appears if you set the Select Query Option field to a value for one security. |
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Issue Symbol | 13 | Specifies the |
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Specifies the unique identifier of the pending transaction for which you are calculating retrospective amortization. This field appears if you set the Hypothetical Mode field to a value of Yes.
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Determines the date used to process the amortization. Options include:
- Original Acquisition Date (O). Default. Runs amortization from the original acquisition date. Based on the Original Acquisition Cost Local (tag 3747) and Original Settle Date (tag 154) on the tax lot. This option is solely geared for positions converted into Eagle's Accounting solution, and the system runs retrospective amortization starting from the original purchase information.
- Conversion/Settlement Date (C). Runs amortization from the conversion date. Based on the Conversion Settlement Date or the Actual Settlement Date of the lot (tag 37), and Current Cost ID Local (tag 128) on the lot. If the lot was purchased in Eagle's Accounting solution, there is no difference between Original Acquisition Date and Conversion Settlement Date.
- Date Specific (D). Runs amortization from a user specified date. Populates three values on each lot in the position before the Earnings process is called. These include the Retro Start Date (tag 10147), the Amount of Amortization up to that Start Date (tag 9615), and the Amount of OID Amortization up to that Start Date (tag 9616).
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Indicates whether you want to calculate hypothetical retrospective amortization for pending transactions. This options allows you to calculate retrospective amortization for securities not held by the entity. Options include:
- Yes. Calculates hypothetical retrospective amortization. Allows you to include pending transactions for the calculation.
- No. Default. Does not calculate hypothetical retrospective amortization.
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trade ticker of the security. | ||
Cross Reference ID | 1233 | Specifies the cross reference security identifier. |
Security Alias | 10 | Displays the asset identifier of the selected security. This field appears if you set the |
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Select Query Option field to a value |
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for one security. | ||
Partition | 85 | Displays the entity partition code. This field appears if you set the Select Query Option field for an entity list or all entities. |
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