F

Factoring
The process by which you sell your accounts receivable to a financial institution (such as a bank) in return for cash. Financial institutions usually charge a fee for factoring.

Finance charges
Additional charges that you assign to customers for past due items. You specify whether you want to charge your customers finance charges in their customer profiles. Finance charges can be included on your customer’s statements and dunning letters.

Financial Statement Generator
A powerful and flexible report building tool for Oracle General Ledger. You can design and generate fiancial reports, apply security rules to control access to data via reports, and use specific features to improve reporting productivity.

Flexfield
An Oracle Applications field made up of segments. Each segment has an assigned name and a set of valid values. Oracle Applications uses flexfields to capture information about your organization. There are two types of flexfields: key flexfields and descriptive flexfields.

Foreign currency conversion
A process in Oracle Applications that converts a foreign currency transaction into your functional currency using and exchange rate you specify.

Foreign currency revaluation
A process that allows you to revalue assets and liabilities denominated in a foreign currency using a period-end (usually a balance sheet date) exchange rate. Oracle General Ledger automatically revalues your foreign assets and liabilities using the period-end exchange rate you specify. Revaluation gains and losses result from fluctuations in an exchange rate between a transaction date and a balance sheet date. General Ledger automatically creates a journal entry to adjust your unrealized gain/loss account when you run revaluation.

Foreign currency translation
A process that allows you to restate your functional currency account balances into a reporting currency. Oracle General Ledger multiplies the average, periodic, or historical rate you define by your functional currency account balances to perform foreign currency translation.