Professional Revaluation Steps

Oracle Public Sector Financials (International) User Guide https://docs.oracle.com/cd/E18727_01/doc.121/e13418/T343030T34...
Inflation Accounting for Assets Procedures

Definition
Inflation Accounting for Assets provides functionality to support the revaluation of fixed assets and the
associated accounting entries. This is part of the UK government’s initiative on resource accounting and
budgeting.
Overview
UK Government departments are required to provide financial statements which measure the resources
consumed in achieving their objectives. All costs are included in this requirement, including the cost of using
capital assets. These costs must be stated in current price terms to make them comparable across
departments and properly reflect the resources consumed. Inflation accounting is used in particular for fixed
assets, for example, buildings. The cost of all assets and their accumulated depreciation must be revalued to
current day terms by reference to published price indexes and professional valuations.
The following types of occasional revaluation are available:
Indexed revaluations
These revaluations depend on a specific index value to calculate the revalued cost.
Professional revaluations
This revaluations require a new cost value to be provided.
The following windows are available in Inflation Accounting for Assets:
Indexed-Professional Revaluation Window

The Indexed - Professional Revaluation window enables users to enter the parameters for a revaluation run.
The user can also perform indexed, professional, or both types of revaluations in one revaluation run.
Revaluation Window
The Revaluation window enables users to view individual assets for the category selected on the Indexed -
Professional Revaluation window.
Indexed-Professional Revaluation Window

The Indexed - Professional Revaluation window enables users to enter the parameters for a revaluation run.
The user can also perform indexed, professional, or both types of revaluations in one revaluation run.
Results - Revaluation Window

The Results - Revaluation window enables users to view the proposed effect of a professional revaluation.
Exceptions Window
The Exceptions window lists any assets that will not be included in the revaluation process, and provides
explanations for the exclusions.
Inflation Accounting - Projection Window

The Inflation Accounting - Projection window enables users to run projections reports. The Projections report is
a variable format report and projects depreciation charges into the future based on current assets and indexes.
1 of 21 3/20/2024, 7:25 PM
Revaluations are based on the revalued costs as at the last closed period and are revalued in each of the
selected revaluation periods within the report range of periods. All active assets are available for projection,
including non-depreciating assets but excluding fully retired assets. This report enables users to review future
charges related to budgets and can be used in cash flow projections as a non-cash adjustment from a profit
forecast.
Variable Format Reports

The Projections report is available as a variable format report, which means users can view and manipulate the
report data in a number of desktop applications. For example, the information can be downloaded into
Microsoft Excel to be sorted and analyzed using familiar spreadsheet features. The report can also be
formatted as an HTML file and placed on a Web server.
To create a variable format report, an attribute set that contains formatting instructions is applied to the
Projections report. In Oracle Applications, attribute sets are defined using the RXi Reports Administration Tool.
A default attribute set is available for the Projections report, alternatively a user-defined attribute set can also
be applied to the report. The report can be published using one of the following options: CSV, HTML, TEXT, or
TAB.
For information on the RXi Reports Administration Tool, see Oracle Financials RXi Reports Administration Tool
User Guide.
Inflation Accounting Inquiry Window

The Inflation Accounting Inquiry window is accessed from the Oracle Assets View Financial Information
window. The View Financial Information window enables users to view historic values for an asset, and the
Inflation Accounting Inquiry window displays the impact of inflation accounting on the values.
Revaluation History Window

The Revaluation History window is accessed from the Inflation Accounting Inquiry window and enables users
to view the full history of cost revaluations affecting a particular asset. Cost revaluations resulting from
occasional revaluation, reclassifications, prior period additions, cost adjustments, and the implementation
toolkit are all displayed in the Revaluation History window. All revaluations identify whether the revaluation type
is indexed, professional, or as a result of the implementation toolkit.
Prerequisites
Inflation Accounting for Assets setup must be completed.
For information on setting up Inflation Accounting for Assets, see Inflation Accounting for Assets Setup,
Oracle Public Sector Financials (International) Implementation Guide.
Performing Indexed-Professional Revaluation Procedure

Entering Parameters and Running Revaluations Procedure
2 of 21 3/20/2024, 7:25 PM
To enter revaluation parameters and run a revaluation, perform the following steps.
1. Navigate to the Indexed - Professional Revaluation window as follows:
OPSF(I) Inflation Accounting - Revaluation
2. In the Book field, select a book from the list of values.
The Status, Revaluation ID, and Revaluation Date fields are automatically populated. All available
categories for the book are listed in the Categories region.
3. In the Categories region, identify the asset categories to be revalued by selecting the check boxes next
to the Category ID field.
4. For an indexed revaluation where there are no changes to the default indices for the selected
categories, proceed to the Submitting the Revaluation Request in Preview Mode Procedure
(T343030T345466.htm#IIACPREVALP) to submit a revaluation preview. For a professional revaluation,
proceed to step 5 to create the revaluation candidates.
5. To create asset revaluation records, click Create.
A concurrent process is run which creates the records.
6. When the process is complete, requery the form as follows:
View - Query by Example - Enter
7. Enter search criteria as required.
8. Run the query as follows:
3 of 21 3/20/2024, 7:25 PM
View - Query by Example - Run
Selecting Assets for Revaluation Procedure
1. To view individual assets for the currently selected category, click Assets.
All assets are selected for revaluation by default.
2. To reduce the list of selected assets, proceed to step 3. To use all assets in the revaluation, proceed to
step 7.
3. Navigate to the Find Assets window as follows:
View - Find
4. Enter search criteria as defined in the Find Assets Window Description.
5. Click Find.
6. To remove an asset from the revaluation process, deselect the Select check box next to the asset
details.
7. To perform an indexed revaluation on an asset, select the Indexed radio button and proceed to step 11.
Note: If both a professional and an indexed revaluation of an asset are performed in the same month,
the professional revaluation may override the indexed revaluation. However, a professional revaluation
cannot be overridden by an indexed revaluation.
8. To perform a professional revaluation, select the Professional radio button.
The New Cost field is enabled and the Select for Calculation check box is automatically selected.
4 of 21 3/20/2024, 7:25 PM
9. In the New Cost field, enter the new asset cost.
Once the new cost is entered, the Reval Rate (%) field displays the cost change as a percentage.
10. To view the accounting effect of a revaluation on the assets, click Calculate.
For information on the results displayed, see Results - Revaluation Window Description
(T343030T345466.htm#IIACPRRWD) .
11. To close the Results - Revaluation window and return to the Revaluation window, click Done.
12. Save or save and continue as follows:
File - Save or Save and Proceed
13. When the revaluation parameters for the assets are complete, close the Revaluation window and return
to the Indexed - Professional Revaluation window, by clicking Done.
Submitting the Revaluation Request in Preview Mode Procedure

1. To submit the revaluation as a preview, click Preview.
2. View Inflation Accounting: Asset Revaluation Preview report generated by the request as follows:
View - Requests
Note: If asset exceptions exist when a revaluation preview has completed, those exceptions are visible
in the Revaluation window. The assets with exceptions are not included in the Revaluation Preview
report.
3. To save the revaluation changes, return to the Indexed-Professional Revaluation window and proceed
to the Viewing Exceptions Procedure.
Viewing Exceptions Procedure
5 of 21 3/20/2024, 7:25 PM
1. Following Preview mode, any assets which Inflation Accounting for Assets cannot revalue are listed as
exceptions. To view these assets, click Exceptions.
The table below lists the exception messages generated by the revaluation program.
Exceptions Generated by Revaluation Program
Number Exception
1 Period entered is not the last closed period.
2 The Asset has cost adjustments against it.
3 The Asset has pending retirement or

reinstatement transactions.
4 New transactions have been processed prior to

running revaluation. You can run revaluation in
the next period only.
5 You cannot perform multiple indexed

revaluations in one period for this asset or you
cannot perform an indexed revaluation on an
asset professionally revalued in the same
period.
2. To close the window, click Done.
Submitting the Revaluation Request in Run Mode Procedure

1. To submit the revaluation, click Run.
6 of 21 3/20/2024, 7:25 PM
The concurrent request is submitted.
2. View the request as follows:
View - Requests
Find Revaluations Window Description

Find Revaluations Window Description
Field Name Type Features Description
Book optional list of values book name
Revaluation ID optional list of values revaluation identification

number
Clear button clears field currently

selected
New button opens Indexed -

Professional
Revaluation window
Find button searches for

revaluations based on
information entered in
Book and Revaluation
ID fields; opens Indexed
- Professional
Revaluation window
and displays search
results
Indexed - Professional Revaluation Window Description

Indexed - Professional Revaluation Window Description
Status display only revaluation process

status as follows: New,
when revaluation
criteria saved; In
Process, while preview
process running;
Previewed, when
preview process
complete; Error, if
preview process fails;
Complete, when
revaluation process
successfully completed;
field updated when
revaluation requeried
7 of 21 3/20/2024, 7:25 PM
Create Request display only automatically generated

ID; created when user
clicks Create or Preview
button
Revaluation ID display only unique ID generated for

revaluation record
Revaluation Date display only last date of current

depreciation period for
book
Revaluation Request display only automatically generated

ID; created when user
clicks Preview or Run
button
Obsolete Revaluation optional check box if selected, revaluation

preview is obsoleted
and cannot be viewed; if
deselected revaluation
preview can be viewed;
action is irreversible
once selected and
confirmed.
[check box] optional check box if selected, category

selected for revaluation;
if deselected, category
not included in
revaluation
Category ID display only category identification
Description display only category description
Deselect button deselects all currently

selected categories and
enables user to select
individual categories as
required; when
categories deselected,
button changes to
Select All and toggles
between Select All and
Deselect All to enable
user to select or
deselect all categories
Assets button opens Revaluation

window
Preview button submits revaluation

request in preview
mode
Exceptions button opens Exceptions

window
8 of 21 3/20/2024, 7:25 PM
Revaluation Window Description

Revaluation Window Description
Select for Calculation conditionally required check box if selected, indicates

that effect of revaluation
on asset can be viewed
immediately by clicking
Calculate; check box
enabled only if
Professional radio
button selected
Allow Prof Update check box if selected, indicates

that professional
revaluation update
allowed
Cancel button closes Revaluation

window without saving
changes and returns to
Indexed - Professional
Revaluation window
Deselect button deselects all currently

selected categories and
enables user to select
individual categories as
required; when
categories deselected,
button changes to
Select All and toggles
between Select All and
Deselect All to enable
user to select or
deselect all categories
Find Assets Window Description

Find Assets Window Description
Asset Number required list of values asset number range to

be included in search
Clear button erases data from all

fields
Find button searches for assets

based on search criteria
entered
9 of 21 3/20/2024, 7:25 PM
Results - Revaluation Window Description

Results - Revaluation Window Description
Asset display only asset number
Old Cost display only asset cost before

revaluation
New Cost display only asset cost after

revaluation
Old Depreciation display only accumulated

Amount depreciation before
revaluation
New Depreciation display only accumulated

Amount depreciation after
revaluation
Old Depreciation display only depreciation reserve

Reserve before revaluation
New Depreciation display only depreciation reserve

Reserve after revaluation
Old Backlog display only backlog reserve before

revaluation
New Backlog display only backlog reserve after

revaluation
Old General Fund display only general fund before

revaluation
New General Fund display only general fund after

revaluation
Old Revaluation display only revaluation reserve

Reserve amount before
revaluation
New Revaluation display only revaluation reserve

Reserve amount after revaluation
Old Operating Account display only operating account

before revaluation
New Operating Account display only operating account after

revaluation
Exceptions Window Description
10 of 21 3/20/2024, 7:25 PM
Exceptions Window Description
Category display only asset category
Asset display only asset number
Exception display only exception message, as

listed in the Exceptions
Generated by
Revaluation Program
table
(T343030T345466.htm#IIACP
EXT)
Running Projections Procedure
To run a projections report, perform the following steps.
1. Navigate to the Inflation Accounting - Projection window as follows:
OPSF(I) Inflation Accounting - Projection
2. In the Book field, select a book type code from the list of values.
3. Optionally, in the Category field, select a category from the list of values.
4. In the Major Category field, select a major asset category from the list of values.
5. In the Minor Category field, select a subsidiary asset category from the list of values.
6. To select all categories, click Cancel.
7. To close the Category Flexfield window, click OK.
8. In the Revaluation Period field, select a revaluation period number from the list of values.
9. In the End Period field, select a projection end period from the list of values.
10. In the RXi Attribute Set field, select the Projections attribute set to be applied to the report.
11. Click Run.
11 of 21 3/20/2024, 7:25 PM
The projections report is submitted as a concurrent request.
12. To re-run the completed projections report, click View.
13. View the request as follows:
View - Requests
Inflation Accounting - Projection Window Description

Inflation Accounting - Projection Window Description
Projection ID display only projection ID code;

generated automatically
when the Run button is
clicked
Start Period display only current open

depreciation period;
automatically inserted
when book name
selected
Output Format optional list of values default value is TEXT

which prints the report
in A4 landscape format;
alternatively, select the
required output format
as follows: CSV for
comma-separated
values, HTML, or TAB
for tab-delimited format
Projection Report Column Descriptions for Projections

Attribute Set
Projection Report Column Descriptions for Projections Attribute Set
Column Heading Description
Company Balancing segment value from Chart of Accounts

definitions.
Cost Center Cost center qualifier segment from Chart of

Accounts definitions.
Major Category Asset Major Category qualifier segment from the

Asset Category Flexfield definition.
Minor Category Asset Minor Category qualifier segment from the

Asset Category Flexfield definition.
Asset Number Asset number as defined in Oracle Assets.
12 of 21 3/20/2024, 7:25 PM
Asset Desc Asset description as defined in Oracle Assets.
Period Standard format period, for example, JAN:02-03;

runs from start period to end period as selected in
the report input parameters.
Period Index Index for specified period.
Reval Cost Index Index for period in which asset cost was last
revalued.
Cost Revalued cost of asset. In the projections period

prior to the first projection report for cost
revaluation, this value will be as per the last user
indexed or professional revaluation.
Period Deprn Based on last closed period revalued depreciation

and updated by revaluations in the selected
revaluation periods.
YTD Deprn Accumulated depreciation figure for the year. If the

selected periods run over a year-end, the YTD
figure in the column will start again from zero.
Comments Reports if a defined condition is encountered during

report processing, for example, if an asset becomes
fully reserved or this is a cost revaluation period.
Note: The following columns are available in the default RXi attribute set in addition to those shown in the
Projections attribute set in the Projection Report Column Descriptions for Projections Attribute Set table
(T343030T345466.htm#IIACPPRCT) :
Concatenated Category
Concatenated Category Description
Category ID
Fiscal Year
Organization Name
Revaluation Period Name
Viewing Asset Revaluation Cost History Procedure
13 of 21 3/20/2024, 7:25 PM
To use the Inflation Accounting for Assets zoom from Oracle Assets to show the effect of inflation accounting
on the record displayed, perform the following steps.
1. In Oracle Assets, navigate to the Assets window as follows:
Inquiry - Financial Information
2. Enter search information relevant to the assets required.
3. Click Find.
4. Select the asset to be viewed.
5. Click Books.
For information on the View Financial Information window, see Viewing Assets, Oracle Assets User's
Guide.
6. Navigate to the Inflation Accounting Inquiry window as follows:
View - Zoom
Note: The Zoom menu option is only available if the current record belongs to an Inflation Accounting
for Assets book in the Oracle Assets View Financial Information window.
7. View data in the Inflation Accounting Inquiry window as described in the Inflation Accounting Inquiry
Window Description (T343030T345466.htm#IIACPIAIWD) table.
8. To view the revaluation history of the asset, click Revaluation History.
14 of 21 3/20/2024, 7:25 PM
9. View data in the Revaluation History window as described in the Revaluation History Window
Description table (T343030T345466.htm#BHAIGHID) .
Note: The impact of retirements, partial retirements, and transfers is not reflected in the Revaluation
History window.
Inflation Accounting Inquiry Window Description

Inflation Accounting Inquiry Window Description, Header Region and Accumulated Balance Tab
Asset Number display only selected asset number
Date Placed in Service display only date asset placed in

service
Years display only number of years in

asset life, in addition to
number of months
displayed in Months
field
Months display only number of months in

asset life, in addition to
number of years
displayed in Years field
Latest Cost Revaluation display only latest cost revaluation

for total accumulated
balance of asset
Historic Cost display only historic cost of asset
15 of 21 3/20/2024, 7:25 PM
Surplus/Deficit display only surplus or deficit

amount; calculated by
subtracting historic cost
from latest cost
revaluation
Backlog Depreciation display only backlog depreciation

amount
Transfer to General display only amount transferred to

Fund General Fund
Net display only net revaluation reserve

balance; calculated by
subtracting backlog
depreciation and
amount transferred to
General Fund from
surplus/deficit amount

for total accumulated
balance of asset; values
appear in the Operating
Account fields if the
asset has a revaluation
below the depreciated
historic cost; in a period
where a revaluation
crosses the depreciated
historic cost, values
appear in both the
Revaluation Reserve
and Operating Account
fields
Historic Cost display only historic cost of asset

subtracting historic cost
from latest cost
revaluation

amount

subtracting backlog
depreciation amount
from surplus/deficit
amount
Historic display only historic depreciation for

accumulated balance of
asset
16 of 21 3/20/2024, 7:25 PM
Expensed Revaluation display only expensed revaluation

amount
Backlog display only backlog depreciation

provision
Total Depreciation display only total depreciation for

total accumulated
balance, calculated by
adding historic
depreciation, expensed
revaluation, and
backlog depreciation
Net Book Value display only net book value,

calculated by
subtracting total
depreciation from latest
cost revaluation
Current Open Period display only open period for the

asset
OK button closes Inflation

Accounting Inquiry
window and displays
View Financial
Information window
Inflation Accounting Inquiry Window Description, Year-to-date Balances Tab

for year-to-date balance
of asset
Previous Cost display only previous cost

Revaluation revaluation for asset

subtracting previous
cost from latest cost
revaluation

amount

Fund General Fund
17 of 21 3/20/2024, 7:25 PM

subtracting backlog
depreciation and
General Fund from

for year-to-date balance
of asset; values appear
in the Operating
where a revaluation
appear in both the
Revaluation Reserve
fields


revaluation

amount

subtracting backlog
depreciation amount
amount

year-to-date balance of
asset

amount

provision
18 of 21 3/20/2024, 7:25 PM

year-to-date balance,
calculated by adding
historic depreciation,
expensed revaluation,
and backlog
depreciation
Current Open Period display only current open period for

the asset
Inflation Accounting Inquiry Window Description, Period Balances Tab

for current period
balance of asset


revaluation

amount

Fund General Fund

subtracting backlog
depreciation and
General Fund from

for current period
balance of asset; values
appear in the Operating
where a revaluation
appear in both the
Revaluation Reserve
fields
19 of 21 3/20/2024, 7:25 PM


revaluation

amount

subtracting backlog
depreciation amount
amount

the period balance of
the asset

amount

provision

period balance,
calculated by adding
historic depreciation,
expensed revaluation,
and backlog
depreciation
Latest Closed Period display only most recently closed

period for the asset
Revaluation History Window Description

Revaluation History Window Description
Number display only asset number
Description display only asset description
Revaluation Type display only type of revaluation

performed on asset:
occasional,
reclassification, cost
adjustment, prior period
addition, or
implementation
20 of 21 3/20/2024, 7:25 PM
Revaluation Method display only type of revaluation

method used: indexed,
professional, or
implementation
Effective Period display only period during which

catch-up routine took
place on a
reclassification or prior
period addition
Period Entered display only period during which

transaction was
performed
Previous display only revalued cost before

transaction took place
New display only current revalued cost
OK button closes Revaluation

History window and
displays Inflation
Account Inquiry window
21 of 21 3/20/2024, 7:25 PM

Professional Revaluation Steps

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Professional Revaluation Steps

Uploaded by

Copyright:

Available Formats

Oracle Public Sector Financials (International) User Guide https://docs.oracle.com/cd/E18727_01/doc.121/e13418/T343030T34...

Inflation Accounting for Assets Procedures

The following types of occasional revaluation are available:

This revaluations require a new cost value to be provided.

The following windows are available in Inflation Accounting for Assets:

Indexed-Professional Revaluation Window

Indexed-Professional Revaluation Window

Results - Revaluation Window

Inflation Accounting - Projection Window

Variable Format Reports

Inflation Accounting Inquiry Window

Revaluation History Window

Performing Indexed-Professional Revaluation Procedure

1. Navigate to the Indexed - Professional Revaluation window as follows:

OPSF(I) Inflation Accounting - Revaluation

2. In the Book field, select a book from the list of values.

5. To create asset revaluation records, click Create.

A concurrent process is run which creates the records.

6. When the process is complete, requery the form as follows:

View - Query by Example - Enter

7. Enter search criteria as required.

8. Run the query as follows:

Selecting Assets for Revaluation Procedure

All assets are selected for revaluation by default.

3. Navigate to the Find Assets window as follows:

4. Enter search criteria as defined in the Find Assets Window Description.

8. To perform a professional revaluation, select the Professional radio button.

12. Save or save and continue as follows:

File - Save or Save and Proceed

Submitting the Revaluation Request in Preview Mode Procedure

Viewing Exceptions Procedure

Exceptions Generated by Revaluation Program

1 Period entered is not the last closed period.

2 The Asset has cost adjustments against it.

3 The Asset has pending retirement or

4 New transactions have been processed prior to

5 You cannot perform multiple indexed

2. To close the window, click Done.

Submitting the Revaluation Request in Run Mode Procedure

2. View the request as follows:

Find Revaluations Window Description

Field Name Type Features Description

Book optional list of values book name

Revaluation ID optional list of values revaluation identification

Clear button clears field currently

New button opens Indexed -

Find button searches for

Indexed - Professional Revaluation Window Description

Field Name Type Features Description

Status display only revaluation process

Create Request display only automatically generated

Revaluation ID display only unique ID generated for

Revaluation Date display only last date of current

Revaluation Request display only automatically generated

Obsolete Revaluation optional check box if selected, revaluation

[check box] optional check box if selected, category

Category ID display only category identification

Description display only category description

Deselect button deselects all currently

Assets button opens Revaluation

Preview button submits revaluation

Exceptions button opens Exceptions

Revaluation Window Description

Field Name Type Features Description