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What is about Future Period and Adjustment Period?

  
Total Answers and Comments: 1 Last Update: June 13, 2006     Asked by: jootesh 
  
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June 13, 2006 11:44:10   #1  
William        

RE: What is about Future Period and Adjustment Period?...

Hi

Future period means in oracle not yet opened u can't post any entry in this period U can have two future periods or one displayed in calander options adjustment period means normally comany may have 12 months or 13 months as per co's requiremens if u have 13 month jan to dec its 12 months addtional one month i.e dec say example 25th to 31st Dec. So here we have 13 months additional 5 days called adjustment period this is use full to enter additonal entries Audit time if your dec period is closed u may still have 5 days period to entery adjustment entries given by auditiors.

Williams.


 
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Latest Answer : Hi,Future period means in oracle not yet opened, u can't post any entry in this period, U can have two future periods or one displayed in calander options, adjustment period means, normally comany may have 12 months, or 13 months as per co's requiremens, ...
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What is your Future Plans for the Company if Permanently Employed?What three Specific Job Positions do you target from the COMPANY?
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What is the effect of not reconciling the expense accounts?If there is a credit adjustment in the expense account with no supporting documentations, what is the financial statement impact?
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