General Ledger - EBS (MOSC)

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Revaluation in Oracle General Ledger

edited Jul 15, 2016 5:02AM in General Ledger - EBS (MOSC) 1 commentAnswered

Can someone please elaborate best practice around revaluation of Income Statement and Balance Sheet Accounts. Our Accounting department wants to revalue transactions denominated in foreign currency form balance sheet accounts different from income statement account. For balance sheet accounts they want to use last day rate of the month using SPOT rate. For Income Statement account they want to use average rate. Is this a normal process? In the Oracle General Ledger we only have spot and corporate in currency list of values. Do we need to setup average rate and enter rates for income statement accounts. Also to revalue

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