What is ment by prorate convention?
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Answer Posted / prasad
Oracle have this Prorate Convention functionality to make
flexible calculation of Asset Depriciation.
We have 3 Types of Calendar
Fiscal Year Calendar -
Jan 12 - Dec 12,2012
Jan 12 - Dec 12,2013
Jan 12 - Dec 12,2014
Depriciation Calendar -
Jan 01 - Jan 31, 2012
Feb 01 - Feb 28, 2012
Mar 01 - mar 31, 2012
Prorate Calendar - (2 Examples)
Jan 01 - Jan 31 Prorate Con - Jan 31,
Or
Feb 01 - Feb 15 Prorate Con - Feb 28,
From this we conclude as it will decide the depriciation of
the asset,irrespective of the Date-In-Place falls in which
prorate convention.
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