Beruflich Dokumente
Kultur Dokumente
Objectives
Agenda
Asset Life
Manual
addition
Invoice
Transfer
Adjustment
Depreciation
Create
journal entries
Copyright 2007, Oracle. All rights reserved.
Full retirement
Partial retirement
Partial unit
Retired asset
Partial cost
Desired Action
Retire an asset
Reinstate an asset
Reinstate a partially
retired asset
SOLD!
Asset # 78660
Total Cost $760,000,000
Asset # 88658
2 Units
Total Cost $10,000
1 Unit
Cost $5,000
RETIRE
Cost $1,000,000
Assets Retired
Reinstate Mass
Retirement
Assets
Reinstated
External Retirements
Input
FA_MASS_EXT_RETIREMENTS
Retirements &
Reinstatements API
Retirement
Copyright 2007, Oracle. All rights reserved.
Retirement
Option to
Status
Choose
Result
Pending
Undo Retirement
Processed
reinstatement
Reinstate
Creates the
transaction, and reverses
the retirement entry
Reinstatement
Undo
Reinstatement
Reverses the
reinstatement entry
Error
New Retirement
Status = PENDING
Undo Retirement
Reinstated
Status =
DELETED
Run Calculate
Gains and Losses
Retirement Status
= PROCESSED
Reinstate?
Reinstate Retirement
Status = REINSTATE
Undo Reinstatement
Status = PROCESSED
Asset Returns
to Original State
Asset Retired
REINSTATEMENT
Capitalized CIP*
1. Charges or reverses
depreciation for the year retired
2. Removes the asset cost and
accumulated depreciation from
the corresponding accounts
3. Clears the proceeds of sale and
the cost of removal
4. Recognizes gain or loss from
the retirement
5. Creates no journal entries
* Construction-in-Process
Expensed
Recording Retirements
Sale
proceeds
Removal
cost
Retired
net
book value
Gain/Loss
Retired
revaluation
reserve
Recording a Retirement on
Multiple Accounts
Oracle Assets creates journal entries for each
component of the gain or loss amount.
Sale proceeds
Removal cost
Retired net book value
Retired revaluation reserve
Scenario:
In Year 2 Qtr 1, you retired a $4,000 asset.
The asset had a four-year life and used the straightline depreciation method.
In Year 2 Qtr 3, you reinstate the asset.
Entry to Reinstate the Asset and Calculate Depreciation
Asset Cost
4,000
Depreciation Expense
250
Depreciation Expense (adjustment)
250
Accumulated Depreciation
1,750
Gain or Loss
2,750
Retirement Reports
Report Name
Description
Asset Retirements by
Cost Center
Retirement Reports
Report Name
Description
Asset Retirements
Report
Retirement Reports
Report Name
Description
Mass Retirements
Mass Retirements
Exception Report
Retirements Report
Summary