Daily Translation and Use of Rate Types with Reporting Currencies (Journal Level)
In 11i there is/was an enhancement to revalue against the primary currency is to address the case where MRC is used, and FAS 52 translation is desired. In this case, non monetary asset and liability accounts can be revalued with this enhancement so that the adjustment is based against the primary book currency,
instead of the entered currency, to mimic the effect of the regular translation program for FAS 52 translation whereby assets and liabilities are stated at the current rate. Thus, in this case, revaluation is used in conjunction with MRC to simulate FAS 52 translation.
instead of the entered currency, to mimic the effect of the regular translation program for FAS 52 translation whereby assets and liabilities are stated at the current rate. Thus, in this case, revaluation is used in conjunction with MRC to simulate FAS 52 translation.
How is this enhancment achieved in R12?
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