Interested to Buy Any Domain ? << Click Here >> for more details...
Why Retained Earning Account is necessary for the set of
book creation while implementing oracle new business.
- 4 Answers
- 17937 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / srinibas
HI,RETAINED EARNING IS AN ACCOUNT WHICH BELONGS TO FUND
BALANCE QUALIFIER.AT THE TIME OF YEAR END CLOSING WE NEED TO
TRANSFER THE DIFFERENCE BETWEEN REVENUE AND EXPENDITURE TO
RETAINED EARNING ACCOUNT
IF I AM WRONG CORRECT ME
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / rajiv gupta
Yes , u r right Srinibas....
Becasue if we do not define this Retained Earning account
then where the difference of Earning and expenditure will
go. This account is also called as Profit and Loss account
(P&L). As the balance in this account reflect the Profit
and loss of company.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / kruthi
Retained earning account is mandatory for the SOB.Per year end closing balances like diffrences it will go to this account.
| Is This Answer Correct ? | 0 Yes | 0 No |
Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. What is the Accounting Entry?
what is Planning budgeting & Funding Budget and Setup Steps For Planning & Funding Budget ?
How to support projects life cycles details?
Hi How to transfer the funds one bank to another bank. Ex: i am using bank called citi bank and i want make the paymeny immediately and my bank balance is 0.So i have another bank account called HDFC and now i wnt to transfer funds HDFC to CITI bank.is this possible in oracle applications? or when i defined MO i need to implement bank funds transfer moudle.Plz clarify my doubt?.
What are the different types of Set of Books ?
What are the journal entries in O2C Cycle.
What is the use of Cost center
What is project accounting in oracle.
Can you please tell me what is there any differece betwen Payables Open Interface Import" Program and the "Payables Invoice Import" program?
Can you translate the balances of SOB in GBP currencies into multiple currencies or only in one different currency?
Define each Flexfeild qualifiers (natural accounts, balancing acc., secondary tracking, cost center)
What is Payment Process Profile? and What is use of Payment process profile
Oracle Apps Technical 
