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Common Glossary

Common Glossary

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Published by: Chandru Vn on Feb 08, 2012
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A group of values and attributes of the values. For example, the value length and value
type that you assign to your account segment to identify a particular element of your
business, such as Company, Division, Region, or Product.

accounting method

The method you select for recording accounts payable transactions. You can choose
between accrual basis, cash basis, or combined basis of accounting. With accrual basis
accounting, Oracle Applications creates journal entries for invoices and payments. With
cash basis accounting, Oracle Applications creates journal entries only after you make
payments. With combined basis accounting, Oracle Applications creates journal entries
for invoices and payments to post to your accrual set of books and creates journal entries
for payments to post to your cash set of books.

accounting period

The periods which make up your fiscal year. You depreciate assets each period.

accounting rule start date

The date Oracle Receivables uses for the first accounting entry it creates when you use an
accounting rule to recognize revenue.
If you choose a variable accounting rule you need to specify a rule duration to let Oracle
Receivables know how many accounting periods to use this accounting rule.

accounting rules

Rules that Oracle Payables AutoInvoice uses to specify revenue recognition schedules for
your transactions. You can define an accounting rule where revenue is recognized over a
fixed or variable period of time. For example, you can define a fixed duration accounting
rule with monthly revenue recognition for a period of 12 months.

accrual accounting

An accounting method you use to recognize revenue when you create invoices.

accrual basis of accounting

A method of accounting in which you recognize revenues in the accounting period you
earn revenues and recognize expenses in the accounting period in which you incur the
expense. Both revenues and expenses need to be measurable to be reportable.

accrue through date

The date through which to accrue revenue for a project. Oracle Projects picks up
expenditure items having an expenditure item date on or before this date, and events
having a completion date on or before this date, when accruing revenue. An exception to
this rule are projects that use cost-to-cost revenue accrual; in this case, the accrue through
date used is the PA Date of the expenditure item's cost distribution lines.

accumulation

An obsolete term. See also summarization.

accumulated depreciation

The total depreciation taken for an asset since it was placed in service. Also known as
life-to-date depreciation and depreciation reserve.

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