FA-Prorate Convention Vs Prorate Calendar

[kkmundhra]

Hi Folks

What is the difference between prorate convention & prorate calendar?

Thanks

Karan

[AmanKhan]

Hi Karan,

Prorate convention --> Oracle Assets uses the prorate convention to determine how much depreciation to take in the first and last year of an asset's life based on when you place the asset in service.

Prorate calender --> this determines number of accounting periods in a fiscal year (or) over how many periods to spread the annual depreciation amount (or) else in simple terms it specifies when an asset should be
depreciated.

thanks,

Aman