Interested to Buy Any Domain ? << Click Here >> for more details...
what is the difference between Revaluation and Translation?
what are the steps in GL?
- 3 Answers
- 55949 Views
- Syntel, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / selvi
o Revaluation: adjusts asset or liability accounts
that may be materially understated or overstated due to a
significant fluctuation in the exchange rate between the
time the transaction was entered and the time revaluation
takes place.
o Translation: restates an entire set of books or
balances for a company from the functional currency to a
foreign currency
| Is This Answer Correct ? | 36 Yes | 4 No |
Revaluation increases or decreases the value of Assets and
liabilities due to currency fluctuations.
Translation converts functional balances to target currency
balances.
The increase or Decrease in value due to Revaluation is
posted to Revaluation reserve A/C
Due to Difference in Exchange rates used to translate
Assets/Liabilites and Income/Expenses, balance is Posted to
Cumulative translation Adjustment Account.
| Is This Answer Correct ? | 33 Yes | 4 No |
Answer / pratik liye
Revaluation : - We perform revaluation to account increase or decrease in value of assets/liabilities due to currency rates fluctuation. Revaluation Reserve account is used to record/post increase/decrease in value.
Transalation :- Translation is performed to translate balances from Functional currency to reporting currency. For e.g. An Indian subsidiary company of US Parent company needs to run translation to report Indian currency balances into USD.
| Is This Answer Correct ? | 2 Yes | 0 No |
How can we Integrate AP,AR,CM & FA to GL? What is the procedure need to fallow as a functional consultant?
Can anybody explain different types of asset depreciation method with an simple example.?
What are the Accounting Entries in P2P.in Oracle Financial terminology ?
If the client is totally dependent on manual on Manual transactions then Is the auto-accounting rules Mandatory?
WHAT IS ACCOUNTING CONVENTION, WHY WILL WE USE IT
how to transfer the retained earning amount from curret year to next year? what is the path in apps financial
Trial balance can run which level, legal entity level or operating unit level.
You created a set of book , where you will attach this SOB in AP?
11 Answers HCL, IBM, TCS,
Is it possible to match PO from Order Management in AP, if so how ? How does the P.O matching process works in AP?
What is UAT and where we can Apply ?
What is Interest Invoice and how it can be created?
I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thank you in advance for your help.
Oracle Apps Technical 
