Professional Documents
Culture Documents
D49290GC10
Edition 1.0
June 2007
D50605
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Copyright © 2007, Oracle. All rights reserved.
This document contains proprietary information and is protected by copyright and other intellectual property laws. You may copy and
print this document solely for your own use in an Oracle training course. The document may not be modified or altered in any way.
Except where your use constitutes "fair use" under copyright law, you may not use, share, download, upload, copy, print, display,
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The information contained in this document is subject to change without notice. If you find any problems in the document, please
report them in writing to: Oracle University, 500 Oracle Parkway, Redwood Shores, California 94065 USA. This document is not
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If this documentation is delivered to the United States Government or anyone using the documentation on behalf of the United
States Government, the following notice is applicable:
Authors
Kathy Wohnoutka, Ruth Kukla, Jan Quist, JongSung Ahn, Chris Rudd, Som Viswapathy, and
Bruce Isner
THESE eKIT MATERIALS ARE FOR YOUR USE IN THIS CLASSROOM ONLY. COPYING eKIT MATERIALS FROM THIS
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Table of Contents
Prerequisites
This is an instructor-led course featuring lecture and hands-on exercises. Online demonstrations
and written practice sessions reinforce the concepts and skills introduced.
Additional Publications
• Read-me files
• Oracle Magazine
(N) Invoice > Entry > Invoice Batches Summary (M) Query > Find (B) Approve
1. (N) From the Navigator window, select Invoice then Entry then Invoice Batches
Summary.
Notations:
(N) = Navigator
(M) = Menu
(T) = Tab
(B) = Button
(I) = Icon
(H) = Hyperlink
1. In the navigation frame of the help system window, expand the General Ledger entry.
4. Review the Enter Journals topic that appears in the document frame of the help system
window.
Depreciation
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Depreciation
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Depreciation
Depreciation
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Objectives
Depreciation
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Agenda
Depreciation
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Elements of Depreciation
Depreciation
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• Define price indexes, if necessary, to report gains and losses for your retired assets by
using the revalued asset cost.
• If not previously done when implementing other Oracle application products, create units
of measure for use with assets depreciating under a units-of-production depreciation
method.
Defining formula based depreciation methods, cost ceilings, price indexes and investment tax
credits are discussed in modules of the Release 12 Asset Management Advanced learning path.
Depreciation
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Depreciation Setup Areas
Depreciation
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Basic Depreciation Calculation
Depreciation
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• For table–based depreciation methods, Oracle Assets uses the depreciation method and
life to determine which rate table to use. Then, it uses the prorate period and year of life
to determine which of the rates in the table to use.
• Flat–rate depreciation methods determine the depreciation rate using fixed rates,
including the basic rate, adjusting rate, and bonus rate.
Calculate Annual Depreciation
• Calculated and table–based methods calculate annual depreciation by multiplying the
depreciation rate by the recoverable cost or net book value as of the beginning of the
fiscal year.
• Flat–rate methods calculate annual depreciation as the depreciation rate multiplied by the
recoverable cost or net book value, multiplied by the fraction of year the asset was held.
Allocate Annual Depreciation Across Periods
Depreciation
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Depreciation Methods
Depreciation
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Using the Life-Based Method
Depreciation
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Life-Based Method Terms
Depreciation
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Life-Based Method Example
Depreciation
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Using the Flat-Rate Method
Depreciation
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When you add an asset, you can select a basic rate and an adjusting rate. Oracle Assets
increases the basic rate by the adjusting rate to give you the adjusted rate. This is your flat–rate
for the fiscal year.
Depreciation Rate = Basic Rate x (1 + Adjusting Rate) + Bonus Rate
Bonus Depreciation
For reporting authorities that allow additional depreciation in the early fiscal years of an asset
life, you can assign an additional bonus rate on top of the flat–rate. Oracle Assets adds the
bonus rate to the adjusted rate to give you the flat–rate for the fiscal year.
Depreciation
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Flat-Rate Method Example
Depreciation
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Guided Demonstration - Create a New Depreciation Method
Responsibility: Assets, Vision Operations (USA)
(N) Setup > Depreciation > Methods
1. Perform the following queries in the Depreciation Methods form to demonstrate some of the
seeded methods. Select the (B) Rates where applicable to demonstrate the Depreciation
Rates form.
2. (I) New
5. (B) Rates
7. (I) Save
Depreciation
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Practice - Create a New Depreciation Method
Overview
In this Practice, you will create a new Depreciation Method.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
database or comparable training test instance on which to complete this Practice.
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
Tasks
Create a New Depreciation Method
Your Company wants to use a custom, three-year accelerated depreciation method for some of
its assets. The name of the method should be XXDEP with the description 3-YEAR
ACCELERATED VACRS. This depreciation method is a straight-line method with 3 Life Years and 12
Prorate Periods Per Year. The custom rates for this method are:
Year 1: Periods 1-4, 40%; periods 5-8, 30%; periods 9-12, 20%
Year 4: Periods 1-4, 0%; periods 5-8, 10%; periods 9-12, 20%
Depreciation
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Solution – Create a New Depreciation Method
Create a New Depreciation Method
Responsibility = Assets, Vision Operations (USA)
Depreciation
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Year Per Per Per Per Per Per Per Per Per Per Per Per
1 2 3 4 5 6 7 8 9 10 11 12
1 .4 .4 .4 .4 .3 .3 .3 .3 .2 .2 .2 .2
2 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3
3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3
4 0 0 0 0 .1 .1 .1 .1 .2 .2 .2 .2
Depreciation
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Using the Units-of-Production Method
Depreciation
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Units-of-Production Method Example
Depreciation
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Entering Production Information
Depreciation
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• The capacity does not change when you partially retire a production asset or change the
unit of measure. Manually adjust the capacity in the Books window.
Depreciation
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Guided Demonstration - Enter Production
Responsibility: Assets, Vision Operations (USA)
(N) Production > Enter
3. In the Periodic Production form, select (I) New to add a new record.
Depreciation
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Units-of-Production Method Production Amount Restrictions
Depreciation
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Units-of-Production Method Restrictions
Depreciation
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Units-of-Production Capacity Restrictions
Depreciation
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Prorate Conventions
Depreciation
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Guided Demonstration - Create a Prorate Convention
Responsibility: Assets, Vision Operations (USA)
(N) Setup > Asset System > Prorate Conventions
2. Tab through the next fields and notice that Oracle Assets completes the data automatically.
Depreciation
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Practice - Create a Prorate Convention
Overview
In this Practice, you will create a new prorate convention.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
database or comparable training test instance on which to complete this Practice.
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
Tasks
Create a New Prorate Convention
You need to create a new prorate convention named XX_PRORATE where assets added on any
date in a month have a prorate date of the first day of the month. Your prorate convention should
use the fiscal year named ACCOUNTING and be setup through December 1994.
Depreciation
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Solution – Create a Prorate Convention
Create a New Prorate Convention
Responsibility = Assets, Vision Operations (USA)
Depreciation
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4. Save your work.
Depreciation
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Run Depreciation Process
Depreciation
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• Once depreciation has been processed for an asset in the current open period, you cannot
perform any transactions on those assets unless depreciation is rolled back or the current
period is closed.
• Note: Ensure that you have entered all transactions for the period before you run
depreciation. Once the program closes the period, you cannot reopen it.
Reporting Currencies
• If you are using Reporting Currencies, you must first run depreciation for each Reporting
Currencies reporting responsibility associated with an asset depreciation book, before
running depreciation for your standard Fixed Assets responsibility.
• When you run depreciation in a Reporting Currencies reporting responsibility, the
Calculate Gains and Losses program does not run automatically, since you cannot run the
Calculate Gains and Losses program in a Reporting Currencies reporting responsibility.
Depreciation
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Depreciation Program Processes
Depreciation
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Rollback Depreciation
Depreciation
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• After running depreciation, you can roll back depreciation to restore assets to their state
at the beginning of the period before running depreciation.
• You can continue to add assets, perform transactions, and make corrections and
adjustments.
• You can roll back depreciation:
- For the current open period
- If you ran depreciation for the period and did not select the Close Period check box
• You can roll back depreciation only for the current open period.
Depreciation
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Projecting Depreciation for an Asset
Depreciation
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Defining a Projection
Depreciation
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Guided Demonstration - Perform a Depreciation Projection
Responsibility: Assets, Vision Operations (USA)
(N) > Depreciation > Projections
2. (B) Run
Depreciation
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Practice - Run a Depreciation Projection
Overview
In this Practice, you will run a depreciation projection for a budget asset book.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
database or comparable training test instance on which to complete this Practice.
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• Replace any year references of YYYY and YY with the calendar year of your choice or
as directed by the Instructor (e.g. 2002 or Jan-02). Keep in mind that some transactions
require calendar dates and calendar periods be defined and enabled before hand in order
to be processed.
Tasks
Run a Depreciation Projection
You have been asked to project depreciation for the OPS BUDGET asset book on a quarterly
basis for 1 year starting with Qtr-1-YY. The projection should present results by cost center
detail.
Depreciation
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Solution – Run a Depreciation Projection
Run a Depreciation Projection
Responsibility = Assets, Vision Operations (USA)
Depreciation
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5. Select the FA Projections Report line and click (B) View Output
Depreciation
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Depreciation Forecasts
Depreciation
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Guided Demonstration - Perform a What-if Depreciation Analysis
Responsibility: Assets, Vision Operations (USA)
(N) > Depreciation > What-If Analysis
2. (B) Run
Depreciation
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Practice - Perform a What-If Depreciation Analysis
Overview
In this Practice, you will perform a What-If depreciation analysis.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
database or comparable training test instance on which to complete this Practice.
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• Replace any year references of YYYY and YY with the calendar year of your choice or
as directed by the Instructor (e.g. 2002 or Jan-02). Keep in mind that some transactions
require calendar dates and calendar periods be defined and enabled before hand in order
to be processed.
Tasks
Perform a What-If Depreciation Analysis
You have been asked what the depreciation effect would be if the depreciation method for all
assets in the COMPUTER-PC category in the OPS CORP asset book was changed to 150DB
with a 3 year life. The request asked for depreciation for 12 periods starting with period Jul-YY.
Depreciation
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Solution – Perform a What-If Depreciation Analysis
Perform a What-If Depreciation Analysis
Responsibility = Assets, Vision Operations (USA)
Depreciation
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4. Navigate to the View Requests form.
5. Select the What-If Depreciation Report line and click (B) View Output.
Depreciation
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Using Depreciation Override
Depreciation
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Note: For Reporting Currencies–enabled books, you do not need to provide the override
amounts for the reporting currency books. The system will derive the reporting book values
based on the ratio of asset cost in the reporting book to asset cost in the primary book.
Depreciation Override Process
To override the system calculated depreciation amounts using the Depreciation Override
window:
(N) Depreciation > Override
1. Open the Depreciation Override window.
2. You can use the Find Assets window to find assets for which you want to change
depreciation.
3. If you did not use the Find Assets window, or query, to find the assets records you wish
Depreciation
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Useful Depreciation Reports
Depreciation
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Useful Depreciation Reports
Depreciation
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Summary
Depreciation
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Depreciation
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Asset Retirements
Chapter 10
Asset Retirements
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Asset Retirements
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Asset Retirements
Asset Retirements
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Objectives
Asset Retirements
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Agenda
Asset Retirements
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Tracking Asset Retirements
Asset Retirements
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Overview of Retiring an Asset
Asset Retirements
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Restrictions on Retirements and Reinstatements
Asset Retirements
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• You can reinstate only the most recent partial retirement if you have performed several
partial retirements on the asset.
Asset Retirements
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Fully Retiring Assets
Asset Retirements
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Guided Demonstration -Perform a Full Retirement and Undo
Retirement
Responsibility: Assets, Vision Operations (USA)
(N) Assets > Asset Workbench
2. (B) Retirements
4. (B) Done
6. (B) Retirements
7. Query the retirement performed above by either going into query mode based on Reference
Number or performing a query all (CTRL + F11).
9. (B) Cancel
Asset Retirements
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Partially Retiring Assets
Asset Retirements
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• Oracle Assets calculates the cost retired as the fraction of total cost for the units retired
relative to the total number of units.
By Source Line
• Select Source Lines to navigate to the Source Lines window.
• Choose the source line or enter the amount you want to retire.
• Select Retire to navigate to the Source Line Retirement window.
• Modify the necessary fields.
Note: You cannot modify units retired or cost retired. You must cancel out of the retirement
window before changing the units or cost information. You can change this information in the
Source Lines window. Source Line window changes are propagated to the Retire window
when you navigate to it.
Asset Retirements
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Guided Demonstration - Process a Partial Retirement and
Reinstate
Responsibility: Assets, Vision Operations (USA)
(N) Assets > Asset Workbench
4. (B) Continue
6. (B) Done
8. In the Parameters window, enter OPS CORP book and accept the default period.
9. (B) OK
11. After the Calculate Gains and Losses program completes, navigate to:
14. Query the retirement performed above by either going into query mode based on Reference
Number or performing a query all (CTRL + F11).
15. Use the down arrow to scroll down to the previous retirement.
Asset Retirements
Chapter
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16. Note the Gain/Loss field is now populated.
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Mass Asset Retirements
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Oracle Assets does not retire the following types of assets, even if they are selected as part of a
mass retirements transaction:
• Assets added in the current period
• Assets with transactions dated after the retirement date you enter • Assets that are
multiply distributed and one or more values do not meet the mass retirement selection
criteria
• For reinstatements, assets retired during a prior fiscal year
Asset Retirements
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Guided Demonstration - Perform a Mass Retirement
Responsibility: Assets, Vision Operations (USA)
(N) Mass Transactions > Retirements > Create and Reinstate
2. (B) Create
6. Close the View Output window and then close the Requests form.
9. (B) Retire
12. Back in the Mass Retirements form, query the mass retirement you just performed.
14. (B) OK
Asset Retirements
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External Retirements
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- If any errors are reported, correct them and reset status from "Error" to "Post" for
those assets in the Mass External Retirements form.
• After the Post Mass External Retirements concurrent program has finished, the gain/loss
program should be run.
Retirements and Reinstatements Application Program Interface (API)
Perform asset retirements, reinstatements, and their related undo transactions without going
thru the Asset Workbench. Use the Retirements API to submit your transactions using
PL/SQL.
Asset Retirements
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Reinstating Retired Assets
Asset Retirements
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Calculate Gains and Losses Program
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Practice - Perform a Retirement and Reinstatement
Overview
In this Practice, you will perform a partial asset retirement, run the Calculate Gains and Losses
program and then reinstate the retirement.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA)
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• Replace any year references of YYYY and YY with the calendar year of your choice or
as directed by the Instructor (e.g. 2002 or Jan-02). Keep in mind that some transactions
require calendar dates and calendar periods be defined and enabled before hand in order
to be processed.
Tasks
Perform a Partial Asset Retirement
Part of the asset with the tag number XXBLDG has been destroyed. You need to retire half of
the asset.
Run the appropriate program that will calculate gains and losses for the asset you retired.
The XXBLDG asset has been rebuilt and the retirement needs to be cancelled.
Asset Retirements
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Solution – Perform a Retirement and Reinstatement
Perform a Partial Asset Retirement
Responsibility = Assets, Vision Operations (USA)
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8. Select (B) Done.
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16. When the asset is displayed, select (B) Retirements.
17. Query the retirement you processed by entering CTRL + F11 in the Retirements form.
18. Note the Gain/Loss field has data. Select (B) Reinstate.
Asset Retirements
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Retirement Processing Flow
Asset Retirements
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Processing a Pending Retirement and Reinstatement
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Calculating Depreciation for the Period Retired
Asset Retirements
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Recording Retirements and Reinstatements
Asset Retirements
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Recording Retirements
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*Gain or Loss 250
* Note the different components of the gain or loss amount.
Asset Retirements
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Recording a Retirement on Multiple Accounts
Asset Retirements
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Retirement Journal Entries Example
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Recording Prior Period Reinstatement Entries
Q2 $ 0 $ 0 $ 0 $ 0
Asset Retirements
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Retirement Reports
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Retirement Reports
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Retirement Reports
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Summary
Asset Retirements
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Asset Accounting
Chapter 11
Asset Accounting
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Asset Accounting
Asset Accounting
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Objectives
Asset Accounting
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Agenda
Asset Accounting
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Setting Up Asset Accounting
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• Assign the ledger to a responsibility.
You can use Oracle Assets with multiple ledgers within a single installation.
Define Additional Journal Entry Sources
In Oracle General Ledger:
(N) Setup > Journal > Sources
In Oracle Assets:
(N) Setup > Financials > General Ledger > Journal Sources
If you do not install Oracle General Ledger, use the Journal Entry Sources window in Oracle
Assets to define additional journal entry sources. Journal entry sources are used to identify the
origin of your journal entry transactions.
If you previously defined your journal entry sources while setting up Oracle General Ledger,
Asset Accounting
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Assets Journal Entries Flow
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• Oracle Assets allows you to run the Create Accounting program multiple times before
closing the depreciation period.
- You can post journal entries to Oracle General Ledger for all transactions that have
occurred thus far in an open depreciation period.
- If additional transactions occur during the open depreciation period, you need to
rerun Depreciation, then you can rerun the Create Accounting program.
See the 12 Asset Management Fundamentals lesson Asset Books for more detailed information
on Asset Books setup requirements.
Asset Accounting
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Oracle Subledger Accounting
Asset Accounting
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Accounting Event Entities and Classes
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Some event classes are divided into event types. For example, the Retirements event class is
divided into the Retirements and Reinstatements event types. Event classes are associated with
process categories using the Event Class options. Process categories allow you to run Create
Accounting for a specific process. For example, if you want to run accounting for the
Revaluation transaction then you can specify the Revaluation process category while running
Create Accounting program.
Asset Accounting
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Create Accounting – Assets Program
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Guided Demonstration - Run Create Accounting
1. Open the Submit Requests window.
Note: The Transfer to General Ledger and Post in General Ledger fields are disabled when
you run the process in the Draft accounting mode.
3. (B) Okay.
4. (B) Submit.
Asset Accounting
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Journal Entries Created
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Oracle Assets creates separate journal entries for adjustments to depreciation expense and
current period depreciation. You can review the effect of your adjustment transaction and your
current period depreciation expense separately in the general ledger.
Asset Accounting
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Reconciling Data in Oracle Assets
Asset Accounting
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Generating Reports to Reconcile to the General Ledger
Asset Accounting
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Reconciling an Asset Cost Account
Asset Accounting
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Reconciling Asset Cost Accounts
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Reconciling a CIP Cost Account
Asset Accounting
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Reconciling a Reserve Account
Asset Accounting
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Report Name and Column Name Reserve Detail Report Column
Asset Reconciliation Reserve Ledger Report Depreciation column
-Depreciation amount column
Asset Accounting
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Reconciling Depreciation Expense
Asset Accounting
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Reconciling Mass Additions
Asset Accounting
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5. Oracle Assets creates journal entries for the general ledger.
6. Use the Mass Additions Status Report to review source lines by queue name in the Mass
Additions interface.
Asset Accounting
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Summary
Asset Accounting
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Asset Inquiry & Reporting
Chapter 12
1. In the Find Assets window, enter 100111 in the Asset Number field and OPS CORP in the
Book field, and select (B) Find.
2. When the Find is complete, select (B) Assignments to view the assignment information for
the asset.
4. Return to the Assets form and select (B) Books. Review the Financial information for the
asset.
5. Select (B) Transactions and click on the ADDITION transaction type line.
6. Select (B) Details to review the detail information for the ADDITION.
7. Close windows until you return to the View Financial Information form. Select (T)
Depreciation and view depreciation history for the asset.
8. Return to the View Financial Information form and select (T) Cost History. Review the
information.
9. Go back to (T) Depreciation and select (M) Tools > View Accounting. Click (B) View
Journal Entry. Select (B) T Accounts.
10. In the Options form, select (B) T Accounts and note the T Account presentation. Select (B)
Activity Summary and review the information.
14. In the Transaction History form, select (M) Tools > View Accounting. Note the accounting
data also is available in this type of inquiry.
19. (B) View Transaction. The Transaction History window in Oracle Assets opens, displaying
information about the accounting event.
21. Go back to the Accounting Events window (you may need to click (I) Back) and click (B)
View Journal Entries to view journal entries for this accounting event.
27. Click the Select check box next to the first two journal entries.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
database or comparable training test instance on which to complete this Practice.
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• The segment separator for the accounting flexfield may not be a dash “-“. Substitute the
applicable segment separator if necessary.
Tasks
Perform a Financial Information Inquiry
You have been asked to provide the following information for OPS CORP book asset # 100081:
• How much depreciation expense was recorded for the asset in the period JUL-96?
You have been asked to find out information for an asset transaction and have only been given
the Reference Number. You’ve been informed the asset is in the OPS CORP book and the
Reference Number is 108.
From Oracle Assets, perform the following Oracle Subledger Accounting inquiries:
• Journal Entries – Find journal entries in the ledger Vision Operations (USA) The From
GL Date should be after December 31, 2006. Compare two journal entries from the list
of journal entries.
• Journal Entry Lines – Find journal entry lines in the Vision Operation (USA) ledger
with a balancing segment of 01. Select one of the journal entry lines and view the
transaction history and journal entry.
2. In the Find Assets window, enter 100081 in the Asset Number field and OPS CORP in the
Book field and select (B) Find.
• DR 01-740-1530-0000-000 30,000.00
• CR 01-000-1570-0000-000 30,000.00
8. In the Depreciation tabbed region, scroll down until you see the period JUL-96. Note that
the depreciation expense for this period was 250.00.
11. In the Find Transactions form, enter the Book OPS CORP and the Reference Number 108.
Select (B) Find.
12. Note that the asset number is 100071 and the description is LAND.
14. In the Find Transactions form, clear the Reference Number field and enter 100071 in the
Asset Numbers range field. Select (B) Find.
Copyright © Oracle Corporation, 2007. All rights reserved.
16. Click on the Location field in the Transaction Details form. Select (I) Edit Field and note the
Location is USA-CA-SAN FRANCISCO-NONE. Close all windows and return to the
Navigator.
19. Click Show on the first transaction in the list of accounting events.
20. (B) View Transaction. The Transaction History window in Oracle Assets opens, displaying
information about the accounting event.
22. Go back to the Accounting Events window (you may need to click (I) Back) and click (B)
View Journal Entries to view journal entries for this accounting event.
28. Click the Select check box next to the first two journal entries.
5. Determine whether users will be able to use self service transfer functionality.
6. The Enable Self–Service Transfer Functionality check box must be checked to enable users
to create transfer requests.
If you do not check this check box, users will only be able to search and view assets.
7. Determine whether users will be able to enter a transfer effective date while requesting a
transfer.
If you check the Allow user–enterable transaction date check box, users will be able to enter
the current date or any date within the current fiscal year. Users will not be able to enter
future dates.
If you do not check this check box, the transfer date is set to the date the transfer is
approved.
Approval Options
8. Determine whether fixed asset manager (iAssets manager) approval is required before
applying any self service transfers.
9. If you check the Require iAssets Manager approval before applying any self–service
transfers check box, then Oracle iAssets will require approval from the fixed asset manager.
The fixed asset manager can review the transfer lines from the iAssets Manager
Responsibility and change the request status.
If you do not check the check box, after management approval, all transfer lines will be
transferred to Oracle Assets with a status of Post.
Both Releasing and Destination approvals required: If you choose this option, an Approver
field appears for each asset selected for transfer on both the releasing and destination
information pages. Both of these fields are required. This option is the default approval type.
No approvals required: If you choose this option, all transfer requests will be automatically
approved.
Only Destination approvals required: If you choose this option, no Approver field will be
displayed on the releasing information page. The Approver field will appear on the
destination information page.
11. Determine the approval method that will be required for each transfer request.
Cost Center–based approvals: If you choose this option, the default approver will be the cost
center manager.
Management hierarchy–based approvals: If you choose this option, the default approver will
be based on the employee hierarchy relationship. The employee is the person for whom the
transfer is requested. The approver defaults to the user who logs in. This option is the default
approval method.
Security Options:
12. Choose the accounting segments that will be displayed throughout Oracle iAssets.
13. Check the Enforce Security by Cost Center check box to allow users to view and perform
transactions only on assets in their cost center.
If you do not check this check box, users will be able to view and perform transactions on
assets in all cost centers.
Search Options:
14. Determine whether users will be restricted to search only their own requests.
If you choose the Restrict users to only search for their saved requests check box, users will
be able to search only their saved requests. If this check box is not checked, users will be
able to query all requests on the system.
Custom Options:
15. Determine whether you want to add any company–specific instructions that users need to
follow before submitting a transfer. To add these instructions, you need to check the Enable
custom text input check box, and enter the company–specific information in the Custom
Tax Accounting
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Objectives
Tax Accounting
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Objectives
Tax Accounting
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Agenda
Tax Accounting
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Creating a Tax Book
Tax Accounting
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Asset Books Regions
Tax Accounting
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• Use the prorate calendar with the smallest period size or resolution you need for
determining your depreciation rate. For example, you may want to use a monthly prorate
calendar in a tax book that uses a quarterly depreciation calendar to allow finer control of
the annual depreciation amount for some monthly prorate/method combinations.
Accounting Rules Region
• Check Allow Reserve Adjustments if you want to allow changes to the accumulated
depreciation in your tax book.
• You can Allow Cost/Expense Ceilings in a depreciation book; however, you cannot apply
a cost ceiling and an expense ceiling to the same asset in a depreciation book.
• Check Allow CIP Assets if you want to be able to automatically add CIP assets to your
tax book when you add them to your corporate book.
Tax Accounting
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Guided Demonstration - Create a Tax Asset Book
Responsibility: Assets, Vision Operations (USA)
(N) Setup > Asset System > Book Controls
6. For both the Depreciation and Prorate Calendar choose Monthly from the LOV.
7. Current Period should be DEC-YY (use you own preferred year but it should be a closed
year in the OPS CORP Book in order to later perform an Initial Mass Copy).
8. Leave the Divide Depreciation field as is and let the Last Run Date for depreciation be the
default of today's date.
9. Tab through the remaining fields in the Calendar region or click on the Accounting Rules
tab.
10. Click the Allow Amortized Changes and Allow Mass Changes checkbox. Note that the
default for these checkboxes is unchecked.
12. In the Tax Rules section, check the Allow Reserve Adjustments and the Allow Expense
Ceilings checkboxes.
13. Check the Allow Mass Copy checkbox and accept the default values displayed.
14. Tab through the remaining fields of the Accounting Rules region or click on the Natural
Accounts tab.
Tax Accounting
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15. Enter the following Natural Account values:
Gain Loss Clearing
Proceeds of Sale 7850 7851 1247
Cost of Removal 7852 7853 2240
Net Book Value 7854 7855
Retired
Reval Reserve Retired 7854 7855
17. Select from the LOV or enter Assets as the Journal Source.
18. For the Journal Categories fields, choose from the LOV or enter the following values:
Field Name Value Field Name Value
Additions Addition CIP Additions CIP Addition
Adjustments Adjustment CIP Adjustments CIP Adjustment
Retirements Retirement CIP Retirements CIP Retirement
Reclass Reclass CIP Reclass CIP Reclassification
Transfers Transfer CIP Transfers CIP Transfer
Revaluation Revaluation
Depreciation Depreciation
Deferred Depreciation Deferred Depreciation
Depreciation Adjustment Depreciation Adjustment
Tax Accounting
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Practice - Define a Tax Asset Book
Overview
In this Practice you will define a tax asset book.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision database or
comparable training test instance on which to complete this Practice.
• Replace XX in the Practice with a unique identifier such as your initials or a number.
(For Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• Replace the year references of YYYY and YY with the calendar year of your choice or
as directed by the Instructor (e.g. 2002 or Jan-02). Keep in mind though, that some
transactions require calendar dates and calendar periods be defined and enabled in order
to be processed.
• The segment separator for the accounting flexfield may not be a dash “-“. Substitute the
applicable segment separator if necessary.
Tasks
Enter Book Header and Calendar Regions Information
Go to the Book Controls form and enter the following Asset Book header and Calendar region
data:
Field Name Value
Name XX_TAX BOOK
Class Tax
Description XX_TAX BOOK
Associated Corporate Book OPS CORP
Ledger Vision Operations
Allow GL Posting No (unchecked)
Depreciation Calendar Monthly
Prorate Calendar Monthly
Current Period Dec-YY (Instructor will
Tax Accounting
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Field Name Value
provide or use your own
preferred year)
Divide Depreciation (accept default)
Depreciate if Retired in First Year (accept default)
Last Depreciation Run (accept default)
Tax Accounting
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Enter Tax Rules Region Information
Tax Accounting
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Solution – Define a Tax Asset Book
Enter Book Header and Calendar Regions Information
1. Navigate to the Book Controls form.
2. Enter the Book Controls Header and Calendar Region data per Task instruction.
Tax Accounting
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Enter Natural Accounts Region Information
5. Tab through all the fields of the Accounting Rules region or click on the Natural Accounts
tab.
Tax Accounting
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Enter Tax Rules Region Information
10. Enter the Tax Rules region data per Task instruction.
Tax Accounting
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Prerequisites for Setting Up Tax Book Asset Categories
Tax Accounting
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Guided Demonstration - Add Asset Categories to Tax Book
Responsibility: Assets, Vision Operations (USA)
(N) Setup > Asset System > Asset Categories
1. In the Asset Categories form, go into query the existing BUILDING-OFFICE asset
category.
3. (I) New
8. (I) Save
10. Back in the Asset Categories form, click in the Category field, enter query mode , and
retrieve the VEHICLE-OWNED STANDARD category.
Tax Accounting
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13. From the LOV, select DEMO TAX BOOK for the Book field.
Tax Accounting
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Practice - Add Asset Categories to a Tax Book
Overview
In this practice you will add 3 asset categories to the XX_TAX BOOK you defined in the
previous practice.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA)
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• Replace any year references of YYYY and YY with the calendar year of your choice or
as directed by the Instructor (e.g. 2002 or Jan-02). Keep in mind that some transactions
require calendar dates and calendar periods be defined and enabled before hand in order
to be processed.
• The segment separator for the accounting flexfield may not be a dash “-“. Substitute the
applicable segment separator if necessary.
Tasks
Assign Asset Categories to the XX_TAX BOOK
In order to later perform a mass copy from the OPS CORP asset book to the XX_TAX BOOK,
you need to add the following existing asset categories to the XX_TAX BOOK. The asset
categories and their applicable data are as follows:
Tax Accounting
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Accumulated 01-000-1660-0000-000 01-000-1650-0000-000 01-000-1620-0000-000
Depreciation
Bonus Expense 01-000-7360-0000-000 01-000-7350-0000-000 01-000-7320-0000-000
Bonus Reserve 01-000-1660-0000-000 01-000-1650-0000-000 01-000-1620-0000-000
Method MACRS HY MACRS HY MACRS STL HY
Life Years 5 10 40
Life Months 0 0 0
Prorate Convention HALF-YEAR HALF-YEAR HALF-YEAR
Retirement HALF-YEAR HALF-YEAR HALF-YEAR
Convention
Tax Accounting
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Solution – Add Asset Categories to a Tax Book
Assign Asset Categories to the XX_TAX BOOK
Responsibility = Assets, Vision Operations (USA)
2. In the Asset Categories form, start query mode (F11) and enter COMPUTER-PC in the
Category field. Execute the query (CTRL+F11).
4. From the List of Values for the Book field, choose XX_TAX BOOK.
Tax Accounting
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6. Select (B) Default Rules.
9. Back in the Asset Categories form, click in the Category field, enter query mode (F11) , and
retrieve the VEHICLE-OWNED HEAVY category.
10. After the record is retrieved, click in the Book field and select (B) New.
11. From the List of Values, choose XX_TAX BOOK for the Book field.
13. When finished, save your work and close out of the Default Depreciation Rules form.
14. Back in the Asset Categories form, click in the Category field, enter query mode (F11) , and
retrieve the BUILDING-OFFICE category.
15. After the record is retrieved, click in the Book field and select (B) New.
Tax Accounting
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16. From the List of Values, choose XX_TAX BOOK for the Book field.
18. When finished, save your work and close out of the Default Depreciation Rules form.
Tax Accounting
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Entering Information in Tax Books
Tax Accounting
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• Use Initial Mass Copy to initially populate your tax book by adding existing assets to a
tax book.
• Use Periodic Mass Copy each period to keep your tax book up to date with your
corporate book.
You can also enter assets and transactions into the tax book manually.
Tax Accounting
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Populating the Tax Book by Initial Mass Copy
Tax Accounting
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- Only run Initial Mass Copy for the first period of your tax book. For following
periods in your tax book, run Periodic Mass Copy.
• Initial Mass Copy does not copy assets retired before the end of that year or assets added
after the end of that year.
• You do not need to copy any adjustments or partial retirements you performed before the
end of the fiscal year.
• When you close this initial period, Oracle Assets calculates the net book value of your
assets that have zero accumulated depreciation in the tax book, and opens the next period.
Tax Accounting
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Populating the Tax Book
Tax Accounting
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Guided Demonstration - Perform an Initial Mass Copy
Responsibility: Assets, Vision Operations (USA)
(N) Tax > Initial Mass Copy
1. In the Submit Request form, enter DEMO TAX BOOK as the lone parameter.
2. (B) Submit
3. Navigate to the View Requests form and select (B) View Output.
Notice that there are assets that have the message "This asset's category is not set up for this
tax book" on the report. This is because we only assigned a few asset categories to the
DEMO TAX BOOK. There are other categories in the OPS CORP book that we did not set
up for the DEMO TAX BOOK. They will not copy, causing this message to display.
Tax Accounting
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Practice - Perform an Initial Mass Copy
Overview
In this Practice, you will perform an Initial Mass Copy of assets from the OPS CORP Book to
the XX_TAX Book you previously defined.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA)
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• Replace any year references of YYYY and YY with the calendar year of your choice or
as directed by the Instructor (e.g. 2002 or Jan-02). Keep in mind that some transactions
require calendar dates and calendar periods be defined and enabled before hand in order
to be processed.
• The segment separator for the accounting flexfield may not be a dash "-". Substitute the
applicable segment separator if necessary.
Tasks
Perform an Initial Mass Copy for the XX_TAX Book
You need to copy assets from the OPS CORP book to the XX_TAX Book for the categories you
assigned to this tax book in a previous Practice.
Tax Accounting
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Solution – Perform an Initial Mass Copy
Perform an Initial Mass Copy for the XX_TAX Book
Responsibility = Assets, Vision Operations (USA)
2. Enter XX_TAX BOOK as the parameter for the request. Select (B) Submit.
4. For the Initial Mass Copy request line, select (B) View Output.
Tax Accounting
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5. View the results of the Initial Mass Copy. Note that there are assets that have the message
"This asset's category is not set up for this tax book" on the report. This is due to you only
assigning a few asset categories to the XX_TAX BOOK and the assets in the OPS CORP
book in categories other than what we set up for the XX_TAX BOOK will not be copied and
therefore display this message.
Tax Accounting
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Populating the Tax Book by Periodic Mass Copy
Tax Accounting
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• Because tax books share category and distribution information with the corporate book,
Periodic Mass Copy does not copy reclassifications or transfers.
- If two transactions in separate corporate periods fall into the same tax period,
Oracle Assets may copy them differently. For example, if you adjust an asset in the
period after you added it to the corporate book but the adjustment falls in the same
tax period as the addition, the tax addition becomes an Addition/Void, and the tax
adjustment is a new Addition transaction.
- If the second transaction is not allowed in the same period, such as a retirement in
the period of the addition, it is not copied.
• Oracle Assets prints all skipped transactions in the Periodic Mass Copy log file.
• In using Periodic Mass Copy, specify whether to copy retirements, adjustments, and
salvage value for the tax book in the Book Controls window.
Tax Accounting
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Updating a Tax Book Manually
Tax Accounting
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Guided Demonstration - Manually Add an Asset to a Tax Book
Responsibility: Assets, Vision Operations (USA)
(N) Assets > Asset Workbench
2. (B) Books
6. (B) Done
Tax Accounting
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Practice - Manually Add an Asset to a Tax Book
Overview
In this Practice, you will add a new asset using QuickAdditions and then manually add that asset
to the OPS FEDERAL tax asset book.
Assumptions
• If you are not attending training at an Oracle University or Authorized Partner
Education Center, you must have access to an Oracle Application Vision demonstration
• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA)
• Replace XX in the Practice with a unique identifier such as your initials or a number
(for Instructor Led Training classes, this number will be assigned to you). This is
necessary in order to create unique records within the database when performing the
Practice.
• Replace any year references of YYYY and YY with the calendar year of your choice or
as directed by the Instructor (e.g. 2002 or Jan-02). Keep in mind that some transactions
require calendar dates and calendar periods be defined and enabled before hand in order
to be processed.
• The segment separator for the accounting flexfield may not be a dash “-“. Substitute the
applicable segment separator if necessary.
Tasks
Add an Asset Using QuickAdditions
You need to add a new asset using QuickAdditions to the OPS CORP book with the following
data:
Tax Accounting
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Location USA-NY-NEW YORK-NONE
You need to manually add the Brand New BMW to the OPS FEDERAL book and change the
depreciation method to MACRS HY with a 5 year life.
Tax Accounting
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Solution – Manually Add an Asset to a Tax Book
Add an Asset Using QuickAdditions
Responsibility = Assets, Vision Operations (USA)
Tax Accounting
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Manually Add the BMW to a Tax Book
4. From the Assets form, select (I) Find.
5. In the Find Assets form, enter either the asset number or tag number (XX_BMW).
6. Enter OPS CORP in the Book field and select (B) Find.
7. Back in the Assets form with the BMW now displayed, select (B) Books.
8. Choose OPS FEDERAL from the list of values for the Book field.
9. Tab to or click in the Current Cost field. The asset information should now be displayed.
10. Change the depreciation method to MACRS HY with a life of 5 Years 0 Months.
Tax Accounting
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Tax Accounting
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Tax Book Upload Interface
Tax Accounting
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2. After running mass copy, the asset now appears in your tax book with an original cost of
$100.
3. You want to change the original cost amount in the tax book to $80, so you execute the
following SQL script:
- insert into fa_tax_interface
- (asset_number, book_type_code, cost, posting_status)
- values (’12345’,’ABCTAX’,80, ’POST’);
4. You run the Upload Tax Book Interface program so that the asset in the tax book now has
an original cost of $80.
5. Next, you adjust the asset cost in the corporate book from $100 to $200.
6. You run the Mass Copy program to the tax book with the profile option FA: Copy All
Tax Accounting
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Discussing Tax Rules
Tax Accounting
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Discussing Tax Rules
Tax Accounting
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Deferred Depreciation
Tax Accounting
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Calculating Deferred Depreciation
Tax Accounting
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Adjusting Accumulated Depreciation
Tax Accounting
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Adjusting Depreciation Reserve for a Single Asset
Tax Accounting
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Oracle Assets automatically adjusts the life-to-date depreciation for all subsequent years to
reflect the adjustment.
• Updating a reserve in tax books does not change the depreciation expense taken.
• It creates journal entries to the accumulated depreciation and depreciation adjustment
accounts.
• Use this feature only when a reporting authority specifies a different accumulated
depreciation.
Tax Accounting
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Guided Demonstration - Adjust Depreciation Reserve
Responsibility: Assets, Vision Operations (USA)
(N) Tax > Tax Workbench
4. (B) Done
Tax Accounting
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Adjusting Depreciation Reserve for All Assets
Tax Accounting
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Controlling Mass Depreciation Adjustment
Tax Accounting
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Calculating Mass Depreciation Adjustment
Tax Accounting
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Automatically Adding CIP Assets to Tax Books
Tax Accounting
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- These transactions are copied automatically to the related tax book. Cost
adjustments are copied as actual adjustment amounts, not as a percentage of the
cost.
- Example: The cost of Asset A in the corporate book is $1000. In the tax book, the
cost of Asset A is $1500 due to inflationary revaluation. If the cost of Asset A in the
corporate book changes by 30% to $1300, the actual adjustment is $300. In the tax
book, the cost adjustment amount of $300 will be copied, not the rate of the
adjustment (30% of $1500). The adjusted cost for Asset A in the tax book will be
$1800, not $1950.
• You cannot view CIP assets in tax books from the Asset Workbench. You can view this
information in the View Financial Information window.
Tax Accounting
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General Tax Reports
Tax Accounting
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Special Tax Reports
Tax Accounting
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Depreciation Adjustment Reports
Tax Accounting
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Summary
Tax Accounting
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Summary
Tax Accounting
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Tax Accounting
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