Issue with FRS Working Balance Sheet Report

User_I0GPW Member Posts: 1 Green Ribbon

We are seeing a variance on the FRS report for the Accumulate Deficit line. It appears that this is related to AOCL from 2020 and I suspect that the system is taking AOCL and closing it out similar to Net Income/Loss. AOCL should not be treated the same as Net Income/Loss and should not be included in the calculation of Accumulated Deficit.

We are trying to determine how Oracle Cloud handles how the retained earnings are calculated for the next year. I.e. December 2020 in January 2021. On the BS retrieve tab, the FRS report shows Accumulated Deficit of $449,197, when I believe it should be $449,170. The difference of $27 I believe is related to the 2020 ending AOCL (account 330010). The report is correct for December 2020, so I believe there may have been an issue with how AOCL was treated at the end of fiscal year.

I checked the Specify Ledger option and see the correct retained earnings account value. Is there somewhere else to check to see how these accounts are being converted over? We checked the hierarchy and it appears to be fine.