Thank you for supporting the Cloud Customer Connect Community in 2024. It's a gift to work with you!

Look back
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Multiple Cost Accounting Periods Open

in Costing 3 comments

Summary:

In Oracle Fusion Cost Accounting in the Ledger attached to a Cost Book (Primary) 'Maximum Open Periods' can be set. While it is a good practice from better internal control and compliance to set this value to 1 (ie. only 1 Period is allowed to be 'Open') wish to seek inputs if there are any specific points to consider / which may result in variations between transaction accounting / inventory valuation in Cost Accounting and General Ledger for reconciliation of balances of Inventory Valuation Accounts.

Content (please ensure you mask any confidential information):

Considering different dates - ie. Transaction Date, Cost Date, Accounted Date - are there any specific points of concern if more than 1 Costing Period is 'Open' . More specifically, we are examining this for a Cost Organization/Cost Book using Standard Costing. Valuable inputs would be of help.

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!