R12 Control Setup Assets

Asset Controls Setup
Release 12 Oracle Asset Management Fundamentals
Copyright 2007, Oracle. All rights reserved.
Objectives
After completing this module, you should be able to do the following: List the Oracle Assets setup steps Discuss defining the Oracle Assets three key flexfields Discuss implementation issues in setting up the three Oracle Assets key flexfields Discuss implementation considerations for System Controls options Explain the use of Quickcodes in Oracle Assets
Objectives
Explain how fiscal years and calendars are used in Oracle Assets Discuss implementation issues in setting up calendars Explain the Oracle Assets profile options Discuss the key processes that need to be completed when planning an Oracle Assets implementation
Agenda
Oracle Assets Setup Steps Oracle Assets Key Flexfields Specifying System Controls QuickCodes Asset Calendars Oracle Assets Profile Options Planning an Oracle Assets Implementation
Oracle Assets Setup Steps

Optional
Unit of Measure Classes Units of Measure Employees Descriptive FF Numbering Suppliers Locations Combinations Asset Keys Combinations Security Investment Tax Credits Price Indexes Distribution Sets Leases Warranties Profile Options Insurance
Required
Set of Books Asset Key Flexfield Asset Category Flexfield Location Flexfield System Controls Fiscal Years
Required w/Defaults
Account Generator Journal Entry Sources Journal Entry Categories QuickCodes Depreciation Methods
Calendars
Book Controls Prorate/Retirement Conventions Asset Categories
Setup Steps Flow

Step 1 Sets of Books Step 4 Employees Step 7
Step 2
Units of Measure Classes
Step 3
Units of Measure Categories
Step 5
Descriptive Flexfields Step 8
Step 6
Account Generator Step 9 Numbering Step 12 Asset Category Flexfield
Journal Entry Sources

Step 10 Suppliers
Journal Entry Categories

Step 11
Asset Key Flexfield
Setup Steps Flow

Step 13
Location Flexfield Step 16 Asset Keys Step 19 Calendars Step 22 Depreciation Methods
Step 14
System Controls Step 17 Quickcodes Step 20 Security Step 23 Depreciation Ceilings
Step 15 Locations Step 18 Fiscal Years

Step 21 Book Controls Step 24 Investment Tax Credits
Setup Steps Flow

Step 25 Prorate/Retire Conventions Step 28 Distribution Sets Step 31 Profile Options Step 26 Price Indexes Step 29 Leases Step 32 Insurance Finished! Step 27 Asset Categories Step 30 Warranties
Oracle Assets Key Flexfields
To run the application, three key flexfields must be set up.
Asset Category Key Flexfield
Asset Location Key Flexfield
Asset Key Key Flexfield
Setting Up Key Flexfields
Define Value Sets
Define Flexfield Segments
Define Values for Each Segment
Purpose Max # of Segments Maximum Width
To group assets by financial information
7
30 spaces 1 segment must be designated Major segment FA_CATEGORIES No CATEGORY_ID
Segment Qualifier Table Name Use Dynamic Insert Unique ID Column
Location Key Flexfield
To group assets by physical location
7
30 spaces 1 segment must be designated State segment FA_LOCATIONS Yes, if desired LOCATION_ID
Location Key Flexfield
To group assets by nonfinancial information
10
30 spaces No qualifier segment
FA_ASSET_KEYWORDS Yes, if desired CODE_COMBINATION_ID
Creating Key Flexfield Combinations

When creating new key flexfield combinations for the Location and Asset Key key flexfields, the following applies: Key Flexfield Segments Structure
Allow Dynamic Insertion ?
Must manually create combinations
No
Yes
Combinations created automatically
Specifying System Controls

Oracle Assets System Controls
Enterprise Name
Oldest Date Placed in Service
Flexfield Structures
Automatic Asset Numbering
QuickCodes
QuickCode Type Asset Description Journal Entries
QuickCode Value Enter values to standardize asset descriptions You cannot enter new Journal Entry values, but you can change the descriptions Enter values to describe your hold queues for Mass Additions Enter values to describe your property Enter values to describe your retirements Enter values to describe your major asset categories (only used with table validation)
Queue Name Property Type Retirement Asset Category
QuickCodes
QuickCode Type Asset Subcategory
QuickCode Value
Enter values to describe your asset subcategories (only used with table validation) Unplanned You can enter to describe different types of Depreciation Type unplanned depreciation adjustments Lease Frequency You cannot alter existing or enter new Lease Frequency values, but you can change the existing descriptions. Lease Payment Type You can enter lease payment types in addition to Annuity, Balloon Payment, Bargain Purchase Option, and Bargain Renewal Option
Defining Fiscal Years and Calendars
Define Fiscal Years
Define Calendars
Prorate Calendar
Depreciation Calendar
Assign to Asset Books

Setting Up Fiscal Years

Set up multiple fiscal years with different names to assign to different asset books The calendar for a tax book must use the same fiscal year name as the calendar for the associated corporate book Define fiscal years from the oldest date placed in service through the current fiscal year At the end of each fiscal year, the depreciation program automatically generates the dates for the following fiscal year and calendars
Setting Up Asset Calendars
Prorate Calendar
Determines the prorate period that is used to select the annual depreciation rate
Depreciation Calendar Determines the number of accounting periods in a fiscal year
Sharing Calendars
Multiple books can share the same calendar Tax books can have different calendars
Corporate
Corporate
Tax
Tax books can also share calendars with their corporate books
Tax
Tax
Defining Price Indexes

Using Price Indexes is optional A price index enables you to calculate gains and losses for retirements using current value rather than historical cost
If you do business in a country that requires you to base gains and losses on current value rather than historical cost, Oracle Assets enables you to set up price indexes to calculate the gains and losses for your asset upon retirement
When you retire an asset assigned to a category and book for which you have defined a price index, you can run the Revalued Asset Retirements Report which uses the revalued asset cost in calculating gains and losses
Profile Options
Account Generator: Purge Runtime Data FA: Allow Swiss Special Assets FA: Archive Table Sizing Factor FA: Cache Sizing Factor FA: Deprn Single FA: Generate Expense Account FA: Large Rollback Segment Name
FA: Number Mass Addition Parallel Requests FA: Number of Parallel Requests FA: Print Debug FA: Print Timing Diagnostics FA: Security Profile FA: Default DPIS to Invoice Date FA: Mass Copy All Cost Adjustments
Profile Options
End User Updatable
Yes No No No No No
Profile Option Account Generator: Purge Runtime Data FA: Allow Swiss Special Assets FA: Archive Table Sizing Factor FA: Cache Sizing Factor FA: Deprn Single FA: Generate Expense Account
Required Optional Optional Optional Optional Optional Optional
Default Value Yes No default 100 Kilobytes 25 No No Default
Profile Options
End User Updatable
No No
Profile Option FA: Large Rollback Segment Name FA: Number Mass Addition Parallel Requests FA: Number of Parallel Requests FA: Print Debug FA: Print Timing Diagnostics
Required Optional Optional
Default Value No default 2
Optional Optional Optional
No default No default No default
No Yes Yes
Profile Options
End User Updatable No No No
Profile Option FA: Security Profile FA: Default DPIS to Invoice Date FA: Mass Copy All Cost Adjustments
Required Optional Optional Optional
Default Value No default No No
Asset Insurance
Oracle Assets provides a window and reports to help you manage insurance values and other insurance information for your assets. You can view and enter insurance information for an asset and assign more than one type of insurance to an asset. Asset insurance information includes insurance categories, current insurance value, and optional updates that affect the insurance value, such as additions or retirements.
Entering Asset Insurance Information
Prerequisites: Enter suppliers in Oracle Payables with a supplier type of Insurance Company Set up Asset Price Indexes, if required Set up Insurance Category QuickCodes, such as Fire, Storm, Theft Set up Hazard Class QuickCodes Set the profile option FA: Allow Swiss Special Assets to Yes if you are planning to enter Swiss special case assets, such as Swiss buildings
Implementing Oracle Assets
1
Plan Implementation
2
Setup Asset Mgmt
Convert Existing Asset Information
Reconcile With Previous System
Planning Implementation
Ask About Company History
Obtain Asset Information
Determine Conversion Period Plan Implementation Decide on Oracle Assets Setups
Key Flexfields Planning Considerations

General Ledger
Accounting Flexfield Flexfield shared with Oracle Assets
Oracle Assets
Category Flexfield
Location Flexfield Flexfields Owned by Oracle Assets

Asset Key Flexfield
The Key Flexfields Planning Phase
Decide which flexfield to implement Learn about a specific flexfield Plan the structure Plan the segments Plan the segment validation
Allow for future needs

Plan to use additional features Document your plan
1 Plan Implementation
2 Setup Asset Mgmt
2 Setup Asset Mgmt
Transfer Data to Oracle Tables
Map Information
Load the FA_MASS_ADDITIONS Table Convert Existing Asset Information Add Additional Asset Details
Send Mass Additions to Oracle Assets
Using the FA_MASS_ADDITIONS Table for Conversion
Legacy system
FA_MASS_ADDITIONS
Populate the interface table
Data uploaded to Asset Mgmt system

2 Setup Asset Mgmt
Post Conversion Reconciliation
Reconcile Asset Information
Run Systems in Parallel
Other Conversion Issues
Pooled Assets
Barcodes
Acquisitions
Maintaining an Audit Trail
Transactions
Audit
Files
FA_BOOKS
FA_DISTRIBUTION_HISTORY FA_TRANSACTION_HEADERS
Maintaining Audit Trails
Adding an asset Adjusting in the period added

Running depreciation Transferring the asset Adjusting in a later period Tracking distribution information
Defining Asset Warranties
You can define and track descriptive information on manufacturer and vendor warranties in Oracle Assets You define the warranty information in the Asset Warranties window You can then assign assets to these previously defined warranties in the Asset Details window You can assign any number of assets to the same warranty
If a warranty has any assets assigned to it, you cannot update or delete the warranty You can attach the asset to a different warranty at any time
Creating Leases
Use the Lease Details window and the Lease Payments window to perform the following tasks: Enter a Lease Enter a Payment Schedule Create an Amortization Schedule
Summary
In this lesson, you should have learned how to: List the Oracle Assets setup steps Discuss defining the Oracle Assets three key flexfields Discuss implementation issues in setting up the three Oracle Assets key flexfields Discuss implementation considerations for System Controls options Explain the use of Quickcodes in Oracle Assets
Summary
Explain how fiscal years and calendars are used in Oracle Assets Discuss implementation issues in setting up calendars Explain the Oracle Assets profile options Discuss the key processes that need to be completed when planning an Oracle Assets implementation

R12 Control Setup Assets

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Asset Controls Setup

Release 12 Oracle Asset Management Fundamentals

Copyright 2007, Oracle. All rights reserved.

Copyright 2007, Oracle. All rights reserved.

Copyright 2007, Oracle. All rights reserved.

Copyright 2007, Oracle. All rights reserved.

Oracle Assets Setup Steps

Copyright 2007, Oracle. All rights reserved.

Setup Steps Flow

Journal Entry Sources

Journal Entry Categories

Asset Key Flexfield

Copyright 2007, Oracle. All rights reserved.

Setup Steps Flow

Step 15 Locations Step 18 Fiscal Years

Copyright 2007, Oracle. All rights reserved.

Setup Steps Flow

Copyright 2007, Oracle. All rights reserved.

Oracle Assets Key Flexfields

To run the application, three key flexfields must be set up.

Asset Category Key Flexfield

Asset Location Key Flexfield

Asset Key Key Flexfield

Copyright 2007, Oracle. All rights reserved.

Setting Up Key Flexfields

Define Value Sets

Define Flexfield Segments

Define Values for Each Segment

Copyright 2007, Oracle. All rights reserved.

Asset Category Key Flexfield

Purpose Max # of Segments Maximum Width

To group assets by financial information

Asset Category Key Flexfield

Segment Qualifier Table Name Use Dynamic Insert Unique ID Column

Copyright 2007, Oracle. All rights reserved.

Location Key Flexfield

Purpose Max # of Segments Maximum Width

To group assets by physical location

Location Key Flexfield

Segment Qualifier Table Name Use Dynamic Insert Unique ID Column

Copyright 2007, Oracle. All rights reserved.

Asset Key Key Flexfield

Purpose Max # of Segments Maximum Width

To group assets by nonfinancial information

Asset Key Key Flexfield

Segment Qualifier Table Name Use Dynamic Insert Unique ID Column

FA_ASSET_KEYWORDS Yes, if desired CODE_COMBINATION_ID

Copyright 2007, Oracle. All rights reserved.

Creating Key Flexfield Combinations

Allow Dynamic Insertion ?

Must manually create combinations

Combinations created automatically

Copyright 2007, Oracle. All rights reserved.

Specifying System Controls

Oldest Date Placed in Service

Automatic Asset Numbering

Copyright 2007, Oracle. All rights reserved.

QuickCode Type Asset Description Journal Entries

Queue Name Property Type Retirement Asset Category

Copyright 2007, Oracle. All rights reserved.

QuickCode Type Asset Subcategory

Copyright 2007, Oracle. All rights reserved.

Defining Fiscal Years and Calendars