When does the Invoice price variance arise? What is the
accounting entry?



When does the Invoice price variance arise? What is the accounting entry?..

Answer / raghesh

Price of a PO different from in Invoice because of exchange rate is termed as invoice price variance

AP accrual A/C --------------- Dr 100
Invoice price variance a/c----- Dr 10

TO,
Liability A/C -----------------Cr 110

Is This Answer Correct ?    2 Yes 1 No

Post New Answer

More Oracle Apps Financial Interview Questions

What are the mandatory flexfiels used in FA?

3 Answers  


dear gurus i would like to know about Flex field qualifiers

4 Answers   Genesis,


if you are not having a cashmanagement module how to reconcile or how to clear the transactions?

2 Answers   Genpact,


Can anybody tell me, What is the Implementation Process?

5 Answers   IBM, TCS,


What do you know about FA to GL cycle?

3 Answers   Deloitte, Symantec,






What is ment by retire asset? How do we retire assets in Oracle applications?

2 Answers  


Use of automatic offset method?

2 Answers   TCS,


would anyone tell me what are the expected real time questions in the interviews

2 Answers  


What are the types of journal categories available in the AP?

2 Answers   DELL,


I have requirement where the Invoice given by supplier is in USD, but the payment can be done in GBP. Is it possible in AP?

4 Answers  


What are the different type of Special calendars ?

1 Answers   FIC,


Why use zero amount payment? what is setup and which condition use ?

1 Answers   Deloitte,


Categories
  • Oracle Apps Technical Interview Questions Oracle Apps Technical (547)
  • Oracle Apps Financial Interview Questions Oracle Apps Financial (793)
  • Oracle Apps Manufacturing Interview Questions Oracle Apps Manufacturing (53)
  • Oracle Apps HRMS Interview Questions Oracle Apps HRMS (169)
  • Oracle Apps CRM Interview Questions Oracle Apps CRM (9)
  • Oracle Apps SCM Interview Questions Oracle Apps SCM (141)
  • Oracle Install Base Interview Questions Oracle Install Base (62)
  • Oracle Service Contracts Interview Questions Oracle Service Contracts (101)
  • Oracle Apps AllOther Interview Questions Oracle Apps AllOther (114)