Oracle Fusion - GASB 34 - Do It the Easy Way! ✅

[@Shishiralways1]

Thank you for this detailed video.

[@MatthewClancyCPA]

You are welcome! - Another GASB 34 Vid coming in a few days.. Sort of an SLA approach with a single asset book and a single ledger.

[@Shishiralways1]

​@@MatthewClancyCPAthank you sir I am eagerly waiting for the same....

[@cohenbetker7417]

Are we able to capitalize CIP assets from projects in a similar way? Curious if this will work as assets from project use CIP lines.

[@MatthewClancyCPA]

Yes of course. There may be a need to adapt the SLA rules but the concept stays the same. Use different ledger representation of the transactions to facilitate reporting. It a capital project is by rule required to be expensed in one financial representation and capitalized in another then you have two ledgers to handle this.