Entering Accounting Rules for a Book

1. In the Book Controls window, choose the Accounting tabbed region.

2. Check the Allow Amortized Changes check box to allow amortized changes in this book.

3. Choose Allow Mass Changes to allow mass changes in this book.
Note: Oracle Assets does not allow mass change to assets for which you have entered unplanned depreciation.

4. Enter the minimum time you must hold an asset for Oracle Assets to report it as a capital gain when you retire it. If you want Oracle Assets to report a capital gain for all assets when you retire them, enter zero for the threshold.
If you hold the asset for less than the threshold, Oracle Assets reports it as ordinary income.

5. If you choose to Allow Revaluation, specify revaluation rules:
Revalue Accumulated Depreciation If you do not revalue accumulated depreciation, Oracle Assets transfers the accumulated
depreciation to the revaluation reserve account upon revaluation.
Revalue YTD Depreciation Check this check box to revalue year–to–date depreciation.
Retire Revaluation Reserve Check this check box to retire revaluation reserve.
Amortize Revaluation Reserve Check this check box to allow revaluation reserve to be amortized in this book.
Revalue Fully Reserved Assets Check this check box to revalue fully reserved assets.
Maximum Revaluations Enter the maximum number of times an asset in this book can be revalued as fully reserved. If you leave this field blank, Oracle Assets does not limit the number of times you can revalue an asset as fully reserved.
Life Extension Factor Enter the life extension factor for fully reserved assets in this book. Oracle Assets multiplies the life
extension factor by the asset original life to determine the asset’s new, extended life.
Life Extension Ceiling The life extension ceiling limits the
depreciation adjustment when revaluing fully reserved assets.

6. Choose Allow Group Depreciation to allow group assets to be added in this book. If you choose to allow group depreciation, specify these group depreciation rules:
Allow CIP Depreciation in Group Assets Check this check box to allow depreciation of member CIP asset cost.
Allow Intercompany Member Asset Assignments Check this check box to allow the group asset and its member assets to have a different balancing segment value. If the check box is not checked, the group asset and each of its member assets must have the same balancing segment value.

Oracle Applications Fusion Cloud - Inventory

Oracle Cloud/Fusion Procurement training will help you develop the fundamental skills required to set up and use the Procurement module. This training covers all the tasks, setups, forms and reports used in Procurement and related modules