Issue link: https://resources.tangoanalytics.com/i/1529537
Other Key Process Decisions Mid-period acquisition date: ▪ Scenario: − Acquisition date: May 15, 2024 − Prepaid rent needs to be accounted for as of the opening balance sheet date ▪ Post-acquisition schedule start date for "fresh start" accounting can be entered as of a mid- month date, pro-rating expense recognition ▪ Prepaid rent: depending on timing of rental payments and terms of the purchase agreement, prepaid rent can be entered in the post-acquisition schedule, with a corresponding ROU Asset adjustment ▪ Predecessor stub period reporting: Tango reports can be leveraged to determine rent expense prorations if needed. RSM | 24