General Ledger Question: Download Questions PDF
Explain What is about Future Period and Adjustment Period?
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 calendar options, adjustment period means, normally company may have 12 months, or 13 months as per co's requirements, if u have 13 month, Jan to Dec its 12 months, additional 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 additional entries Audit time,if your dec period is closed, u may still have 5 days period to entry adjustment entries given by auditors.
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