COST ACCOUNTING
COST MANAGEMENT SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
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Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
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Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
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Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
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Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
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Detailed explanation-1: -Oracle Receipt Accounting is used to create, manage, review, and audit purchase accruals. It includes the following features: Create Receipt Accounting Distributions. Create accounting distributions for receipts of accrue at receipt purchase orders.
Detailed explanation-2: -When goods are interfaced from Oracle Receiving to Oracle Receipt Accounting, Receipt Accounting recognizes the liability to the supplier, and creates accruals for receipts destined for inventory or expense. For consigned purchases, the supplier accrual is booked upon change of ownership.
Detailed explanation-3: -In accounting, receipts can also refer to the total cash inflows over a specific period of time. A typical receipt states the time and value of a transaction, and may also include information on the type of service or product being provided, the method of payment, and any additional taxes or fees.
Detailed explanation-4: -Purchasing automatically records the accrued liability for your inventory items at the time of receipt as perpetual accruals. This transaction is automatically recorded in your general ledger at the time of receipt.