Why Doesn't Fixed Assets Use Historical Foreign Exchange Rates For Asset Depreciation?
(Doc ID 2206623.1)
Last updated on OCTOBER 18, 2019
Applies to:Oracle Fusion Assets Cloud Service - Version 220.127.116.11.0 and later
Information in this document applies to any platform.
How does Assets account for the difference in exchange rate for reserve?
An asset is purchased for 1000.00$ CAD which converts in FA to 833.33 USD (FX at 1.2).
There is a reporting ledger in CAD which gets transferred the account balances as part of month end processes.
So once the asset is fully depreciated the accumulated depreciation will be 833.33 USD. When this is transferred (where the FX rate is now 1.26) then the accumulated depreciation is now 1050.00 in CAD.
So there is now a difference of $50.00 between the original cost and the accumulated depreciation.
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