Why Doesn't Fixed Assets Use Historical Foreign Exchange Rates For Asset Depreciation?
(Doc ID 2206623.1)
Last updated on JULY 25, 2023
Applies to:
Oracle Fusion Assets Cloud Service - Version 11.1.11.1.0 and laterInformation in this document applies to any platform.
Goal
How does Assets account for the difference in exchange rate for reserve?
For example:
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.
Solution
To view full details, sign in with your My Oracle Support account. |
|
Don't have a My Oracle Support account? Click to get started! |
In this Document
Goal |
Solution |
References |