Oracle fixed assets
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Release 12 of Oracle Assets introduces several new features including integrated sub-ledger accounting, enhanced mass additions for legacy conversions, automatic preparation of mass additions, XML-based flexible reporting, automatic depreciation rollback, and enhanced functionality for the energy industry. It allows setup and use of the new features in Oracle Assets Release 12.
Oracle fixed assets
- 1. Release 12
- 2. After completing this module you should be able to: Describe and use the new features in Release 12 of Oracle Assets Set up the new features in Release 12 of Oracle Assets
- 3. Sub Ledger Accounting Architecture and Inquiries Enhanced Mass Additions for Legacy conversions Automatic Preparation of Mass Additions Flexible Reporting using XML publisher Automatic depreciation rollback Enhanced functionality for Energy industry
- 4. Sub Ledger Accounting Architecture and Inquiries Enhanced Mass Additions for Legacy conversions Automatic Preparation of Mass Additions Flexible Reporting using XML publisher Automatic depreciation rollback Enhanced functionality for Energy industry
- 5. SLA Oracle Assets is fully integrated with SLA, which is a common accounting platform for Sub Ledgers You can use the seeded Account Derivation definitions or modify them as required SLA supports Account Generator functionality for existing Asset Books Supports new SLA Accounting report and online account inquiry
- 6. Enables compliance with multiple legislative, industry or geography requirements concurrently in a single instance through configurable rules Increase transparency and enable full auditability of the transaction and accounting data through the new data model
- 7. PROCESS View Journals in SLA inquiry Enter Transactions in Oracle Assets Drill down from Journal To Asset Run the Create Accounting Program Automated process
- 8. SLA is a new common accounting architecture that: Provides improved accounting reporting and analysis Supports multiple accounting requirements concurrently in a single instance through configurable rules Oracle Assets is fully integrated with Oracle Subledger Accounting for creating Journal Entries, Account drill down and Inquiry.
- 10. Sub Ledger Accounting Architecture and Inquiries Enhanced Mass Additions for Legacy conversions Automatic Preparation of Mass Additions Flexible Reporting using XML publisher Automatic depreciation rollback Enhanced functionality for Energy industry
- 11. Many attributes have been added to the FA MASSADDITIONS interface table, including: Asset life Depreciation method Prorate convention Bonus rule Ceiling name Depreciation limit
- 12. Oracle Web Applications Desktop Integrator (Web ADI) has been enhanced to support the following new columns: Depreciation Method Life in Months Basic Rate Adjusted Rate Prorate Convention Bonus Rule Depreciation Limit Type
- 13. Customers can populate the values directly Legacy conversion can be completely automated Values can now be imported directly from your legacy system, instead of being derived from asset category setups
- 14. Security---who is allowed to use Mass Additions using Web ADI?
- 15. Sub Ledger Accounting Architecture and Inquiries Enhanced Mass Additions for Legacy conversions Automatic Preparation of Mass Additions Flexible Reporting using XML publisher Automatic depreciation rollback Enhanced functionality for Energy industry
- 16. Mass Additions: Consist of default rules and Public APIs that can be used by customers to complete the preparation of mass addition lines automatically Auto populate required fields such as Expense Account, Asset Category, and others
- 17. Avoid manual intervention during the Mass Additions prepare process Avoid customization and use public APIs to effect custom business logic
- 18. PROCESS Interface Mass Addition Lines from AP or Other system Run the Prepare Mass Additions Concurrent Program
- 19. To process mass addition lines: 1. Interface Mass Additions Lines from Accounts Payable or any other system 2. Run the Prepare Mass Additions Program 3. Optionally verify Mass Additions data 4. Post Mass Additions
- 21. Rules to Prepare Mass Additions: Value Description Use Default The Asset Category is derived based on the Asset Clearing Account if there is a one to one match in the Asset Category setup. The Expense account is derived based on the Clearing Account by replacing the natural account segment from the Asset Category. Use Custom The Prepare Mass Additions program will use the custom logic coded in the Public API Use Custom Energy Energy industry specific custom rule.
- 22. Sub Ledger Accounting Architecture and Inquiries Enhanced Mass Additions for Legacy conversions Automatic Preparation of Mass Additions Flexible Reporting using XML publisher Automatic depreciation rollback Enhanced functionality for Energy industry
- 23. Major Asset Transaction reports have been modified to support XML publisher You can modify or use new templates to view report output
- 24. XML reporting is available for the following asset reports: Asset Transfers Report Transaction History Report Asset Reclassification Report Mass Additions Create Report Cost Adjustment Report Cost Summary Report CIP Summary Report Reserve Summary Journal Entry Reserve Ledger Asset Additions Report CIP Capitalization Report Mass Additions Posting Asset Retirements
- 25. You can customize report output by modifying seeded templates or by using new templates
- 26. Set up Procedure: 1. Query up the concurrent program as system administrator 2. Change the output format to XML 3. Once the output is flagged as XML, submit concurrent request
- 28. Sub Ledger Accounting Architecture and Inquiries Enhanced Mass Additions for Legacy conversions Automatic Preparation of Mass Additions Flexible Reporting using XML publisher Automatic depreciation rollback Enhanced functionality for Energy industry
- 29. Depreciation is rolled back automatically by the system when any transaction is performed on an asset if the following conditions are met: Depreciation has been processed in that period and The period is not closed
- 30. You are no longer required to run the depreciation rollback program manually Depreciation rollback is executed only on select assets as required and not on the entire Asset Book
- 31. Sub Ledger Accounting Architecture and Inquiries Enhanced Mass Additions for Legacy conversions Automatic Preparation of Mass Additions Flexible Reporting using XML publisher Automatic depreciation rollback Enhanced functionality for Energy industry
- 32. Energy Allow Production method for Group Assets Allow Production upload to Group Assets Energy Units of Production Method for Group Assets Straight line Method Depreciation calculation formula is: Net Book Value/Remaining Life
- 33. In this module, you should have learned how to: Describe and use the new features in Release 12 of Oracle Assets Set up the new features in Release 12 of Oracle Assets
Editor's Notes
- #7: Subledger Accounting Architecture Benefits The flexibility of the accounting rule setup allows meeting different requirements in different legislative, geographic or industry contexts within a single instance. Assuming operations in multiple countries, each with its own legal requirements and accounting standards, you are able to define a setup to meet each of the requirements. SLA allows for multiple accounting requirements for a single transaction or business event. The accounting data that is generated is viewable and provides full auditability.
- #8: Subledger Accounting Process The process is executed as follows: Enter transactions in Oracle Assets Run the Create Accounting Program to process accounting. Inquire and drilldown from SLA Pages
- #10: Subledger Accounting Architecture Setup and Process Responsibility: Assets Navigation: Create Accounting The key setup steps are: Compile the Application Accounting Definition in SLA (Optionally modify the Application Accounting Definition) Complete the Accounting Setup flow in General Ledger
- #12: Enhanced Mass Additions for Legacy Conversions Description Attributes have been added to the FA MASSADDITIONS interface table to enhance the mass additions functionality.
- #14: Enhanced Mass Additions for Legacy Conversions Benefits You can use the mass additions process to convert data from a previous asset system. Instead of loading the asset information into multiple Oracle Assets tables, load it into the FA_MASS_ADDITIONS table. The Post Mass Additions process can then be used to move the asset information from the table to Oracle Assets. After placing your data in this table, you run the Post Mass Additions program to perform the data import.
- #18: Automatic Preparation of Mass Additions Benefits The major benefits of this feature are that you can: Avoid manual intervention during the Mass Additions prepare process Avoid customization and use public APIs to effect custom business logic
- #21: Automatic Preparation of Mass Additions Setup Responsibility: Assets Navigation: Setup:Asset System > QuickCodes Setup Quickcodes in Oracle Assets.
- #22: Automatic Preparation of Mass Additions Setup Quickcodes Set up the Rules to Prepare Mass Additions in Quickcodes: Use Default: The Asset Category is derived based on the Asset Clearing Account if there is a one to one match in the Asset Category setup. The Expense account is derived based on the Clearing Account by replacing the natural account segment from the Asset Category. Use Custom: The Prepare Mass Additions program will use the custom logic coded in the Public API Use Custom Energy: Energy industry specific custom rule.
- #28: Flexible Reporting Using XML Publisher Example XML Output This is the new output using the XML publisher.
- #30: Automatic Depreciation Rollback Description Since release 11i, users have been able to run depreciation for an asset book without closing the period. If additional adjustments are required in the current period, then the user submits a process to roll back depreciation for the entire book, performs the necessary adjustment(s) and then resubmits the depreciation program. In Release 12, the intermediate manual step of rolling back depreciation for the entire book in order to process further adjustments on selected assets is no longer necessary. As before, you can submit depreciation for the entire book prior to closing the period. If it becomes necessary to process financial adjustments on one or more assets, you may proceed with the transaction normally via the asset workbench or mass transactions. Oracle Assets automatically rolls back the depreciation on just the selected assets (instead of the whole book) and allows the transactions to be processed normally. The assets for which depreciation was rolled back is automatically picked up during the next depreciation run or at the time that the depreciation period is finally closed.
- #31: Automatic Depreciation Rollback Benefits It is no longer required to run depreciation rollback program manually. Depreciation rollback is executed only on select assets as required and not on the entire Asset Book, thereby enhancing performance of the program.
- #33: Enhanced Functionality for Energy Industry Description There is now support for ‘Units of production’ method for group asset. Another depreciation method for energy industry is Energy Straight line Method. The Depreciation calculation formula is:Net Book Value/Remaining Life