impairment reserve
Summary:
Clearing the Impairment Reserve Balance and charging this to an Impairment Reserve Reversal (Revenue) Account
Content (please ensure you mask any confidential information):
Hello,
We have a business requirement from one of our East European countries to 1. clear the Impairment Reserve balance which is credited at the time of Impairment, immediately at the time of impairment reversal and 2. charge this to a local Impairment Reserve Reversal account
- In my opinion this is not possible because when you impair, the impairment reserve is credited with the impairment loss amount and when you reverse, it is credited so there is a net balance which you can either clear by means of a manual GL adjustment journal or consider amortizing this balance over the remaining life of an asset which I believe is also not possible in standard Oracle Cloud. The other option would be to retire an asset but that would take place only after N periods of years.
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