Cumulative Translation Adjustments in Oracle Financial Consolidation & Close (FCCS)
When it comes to the financial close, stakeholders and regulatory bodies require speed and accuracy. By implementing Oracle Financial Consolidation & Close Cloud Service (FCCS), your organization can focus on core business needs, and eliminate the cost and dependencies of infrastructure overhead. Oracle Cloud Services FCCS allows companies to deliver financial and non-financial data to all stakeholders with precision and reliability. One of the key features of Oracle FCCS is the built-in balance sheet movement translations with FX/Cumulative Translation Adjustments (CTA) Calculations. This option is only available for multi-currency applications. The applications can be configured to include the CTA account in the balance sheet, or in comprehensive income. This blog outlines the process of performing CTA translation adjustments in Oracle FCCS. CTA Account · System allows to capture FX information in a separate CTA account...