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Projects - EBS (MOSC)

ERV as per US GAAP

Dec 2, 2011 6:49AM edited Dec 9, 2011 6:49AM in Projects - EBS (MOSC) 1 comment

I have a question which might not be relevant in this group but, this might be faced by all Project Consultants, so hoping for an answer.

Take a scenario for Capital transaction:

1) Create a PO for 100 EUR where the functional currency is in USD. The corrsponding amount in USD is 144$

2) Create a Receipt for 100 EUR, which will transact in USD for 144$ and is posted in Projects

3) Create an Invoice for 100 EUR, but the day when the invoice was received due to currency difference the amount in USD is 148$.

4) This difference of 4$ is Exchange Rate Variance and is posted in Projects and is marked as Capitalizable.

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