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What is average Balance In Oracle Financials?
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Answer Posted / varadhi reddy
The Average Balance feature of Oracle General Ledger
provides organizations with the ability to track average and
end-of-day balances, report average balance sheets, and
create custom reports using both standard and average
balances. Average balance processing is particularly
important for financial institutions, since average balance
sheets are required, in addition to standard balance sheets,
by many regulatory agencies. Many organizations also use
average balances for internal management reporting and
profitability analysis.
The difference between an average and standard balance sheet
is that balances are expressed as average amounts rather
than actual period-end amounts. An average balance is
computed as the sum of the actual daily closing balance for
a balance sheet account, divided by the number of calendar
days in the reporting period.
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