Daily Prorate Convention with Uneven Fiscal Years
I have a requirement for a daily prorate schedule where depreciation is calculated by days: if an asset is placed in service on April 1 it will have a different depreciation in Month 1 than an asset placed in service on April 2.
Where I am running into an issue is where, when setting up the prorate calendar, I am unable to put in the standard 365 days as number of periods. This is because the client has uneven fiscal years: 2010 was short, 262 days and 2011 therefore made up those days to be 268 days. Oracle is only allowing me to put in 262 days as the maximum number of periods, which means I would have to combine certain days to fall under 1 period which is close to exact but not correct accounting.
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