INTERVIEW QUESTIONS ACCOUNTS GENERAL LEDGER DETAILS

Question: What is about Future Period and Adjustment Period?

Answer: 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.

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.

Source: CoolInterview.com

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