How Oracle Complies with FASB Standards for Re-Measurement of Assets
Last updated on APRIL 14, 2017
Applies to:Oracle General Ledger - Version 22.214.171.124 and later
Information in this document applies to any platform.
Checked for relevance on 15-APR-2011
How is Oracle compliant with FAS8/FAS 52 with regards to asset depreciation?
How does the application conform with the Re-measurement Process to the Functional Currency and Translation of Operations in Highly Inflationary Economies?
Both of these requirements call for non-monetary assets and any revenues and expenses related to non-monetary assets to be remeasured/translated using historical rates.
You are looking to apply historical rates to your Fixed Asset and Depreciation items, but General Ledger does not let you do this.
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