How Oracle Complies with FASB Standards for Re-Measurement of Assets (Doc ID 1069104.6)

Last updated on APRIL 14, 2017

Applies to:

Oracle General Ledger - Version 11.5.10.2 and later
Information in this document applies to any platform.


Checked for relevance on 15-APR-2011


Goal

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.

Solution

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