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WHAT IS ACCOUNTING CONVENTION, WHY WILL WE USE IT?
Answer:
Accounting Convention which is nothing but subledger
accounting. It is the additional feature introduced in R12
For Eg. If the company in India is primary company and it
has branch at US which we can treat as secondary or subsidary,
1) In us its functional currency is USD which differs with
Primary country functional currency,
2) In US Calander is from 01-jan to 31-dec and in Primary
company Calander is 01-APR TO 31-MAR
3)BASED ON PRIMARY COMPANY REQUIREMENT ACCOUNTS ARE CREATED
AND SAME WAY SECONDARY COMPANY ALSO HAVING ITS OWN ACCOUNTS
KEY FLEXI FIELDS
accounting. It is the additional feature introduced in R12
For Eg. If the company in India is primary company and it
has branch at US which we can treat as secondary or subsidary,
1) In us its functional currency is USD which differs with
Primary country functional currency,
2) In US Calander is from 01-jan to 31-dec and in Primary
company Calander is 01-APR TO 31-MAR
3)BASED ON PRIMARY COMPANY REQUIREMENT ACCOUNTS ARE CREATED
AND SAME WAY SECONDARY COMPANY ALSO HAVING ITS OWN ACCOUNTS
KEY FLEXI FIELDS
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