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R11i Meeting FAS 52 Requirement By Running Revaluation Program (GLCRVL) (Doc ID 270909.1)

Last updated on OCTOBER 20, 2020

Applies to:

Oracle General Ledger - Version 11.5.9 to 11.5.10.2 [Release 11.5.9 to 11.5.10]
Information in this document applies to any platform.

Goal

The FAS-52 rules require the financial statements of an overseas operation be converted to the parent company currency at the current rate in respect of all assets and liabilities. It can be achieved by running the revaluation program (GLCRVL) to execute a revision of the balances in the reporting set of books to reflect the current rates. The current revaluation program revalues from the entered/transaction currency to the set of books currency for both primary and reporting sets of books. However, this calculation may result in a material difference for FAS-52 Translation for non-monetary balances.

This Article details the pre-requisites and steps for achieving the same.

Solution

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