How can we Define Corporate law sob and Income Tax law Sob?

Answers were Sorted based on User's Feedback



How can we Define Corporate law sob and Income Tax law Sob? ..

Answer / dheeraj

Setup-> Assetsystem -> Book controls

A corporate book holds all asset information, asset transfer
information, Asset Reclassification information, Asset Cost
Adjustment, Retirements, Revaluation, Changes and
Depreciation information. It is important and Primary Book.
A corporate book is maintained as per company Law.

A tax book captures all asset information as per Income tax
act. It is associated with corporate book to copy the
existing asset. We can mass copy the information as required.

Is This Answer Correct ?    3 Yes 0 No

How can we Define Corporate law sob and Income Tax law Sob? ..

Answer / raghu kalavendi

Setup-> Assetsystem -> Book controls

Asset Book Controls has a field that asks what book we are
defining depending upon the requirement we can mention as
Corporate or Tax Book.

If we are defining Tax book sepcify the Corporate book
Associated.

Is This Answer Correct ?    3 Yes 0 No

How can we Define Corporate law sob and Income Tax law Sob? ..

Answer / ravi

Setup-> Assetsystem -> Book controls

Corporate book consist of total information about the Assets
like location , cost , Depreciation etc..

where as Tax book consist of the information abt the tax
of particular Assets in the organization

Is This Answer Correct ?    3 Yes 0 No

Post New Answer

More Oracle Apps Financial Interview Questions

What is internal-external bank (account)? Suppliers bank account? Inernal-external sales order? In AP, do you settup each supplier with its own account or you just use your expense/charge account for all supplier.Whatif you want to know how much money you paid to a particular supplier?

2 Answers  


Can we get the status as remmitted after confirming the Payment batch. If so please tell me the set ups required. Regards, Roopa

2 Answers  


what will be happend if invoice match with po?

3 Answers   KPMG, Oracle,


What is on-account receipt account , un-applied receipt Account, and un-identified receipt account in ar ?

4 Answers   IBM,


What is meant my PO?

4 Answers  






Use of Future dated payments?

4 Answers  


Why should we run "Replicate seed data" program??

6 Answers  


What is catch up depreciation

1 Answers   Datamatics,


Can multiple Sales Orders be invoiced under one Invoice?

2 Answers  


we track suppliers information from legacy to oracle apps what is the programe?in technical scenario we use sql loader or adi but in functional what is the program ?

2 Answers   Genpact, JM Baxi,


Can any one please tell me when and how the a/cing entries will be generated from various modules when the transactions are generated Please help me in this matter Thanks KNRao

1 Answers  


In Accounts Payable credit memo and debit memo are entered with -ve amount but in Accounts Receivable why credit memo has -ve amonut and debit memo + ve?

6 Answers   Silicon Valley,


Categories
  • Oracle Apps Technical Interview Questions Oracle Apps Technical (547)
  • Oracle Apps Financial Interview Questions Oracle Apps Financial (793)
  • Oracle Apps Manufacturing Interview Questions Oracle Apps Manufacturing (53)
  • Oracle Apps HRMS Interview Questions Oracle Apps HRMS (169)
  • Oracle Apps CRM Interview Questions Oracle Apps CRM (9)
  • Oracle Apps SCM Interview Questions Oracle Apps SCM (141)
  • Oracle Install Base Interview Questions Oracle Install Base (62)
  • Oracle Service Contracts Interview Questions Oracle Service Contracts (101)
  • Oracle Apps AllOther Interview Questions Oracle Apps AllOther (114)