Oracle R12 Asset Management — A 2-Day Course

 Open Public Course Closed In-House Course

Synopsis

This course is designed for managers and users who are required to set up and use Oracle Assets for fixed asset management.

Delegates will gain an understanding of the asset life cycle. They will be able to add an asset, adjust and revalue an asset, calculate depreciation on an asset, transfer an asset and retire an asset. Delegates will also learn how to use Mass Additions by integrating with Oracle Accounts Payable.

Objectives

On completion of this course, delegates will be able to:

• Setting up asset controls
• Defining asset books and categories
• Setting up depreciation
• Adding asset additions manually
• Creating and preparing mass additions
• Posting mass additions
• Using CIP asset additions
• Adjusting and maintaining assets
• Clearing historical data
• Transferring assets
• Depreciating assets and project assets
• Report reconciliation
• Retiring and reinstating assets and calculating gains and losses
• Creating asset management journal entries
• Using the account generator
• Performing asset inquiries and reports
• Tax accounting

Suitable For

This course is intended for:

• This course is suitable for managers and end users who need to set up and use Oracle Assets.

Prerequisites

• An understanding of basic accounting concepts and the asset management function. Knowledge of Oracle Accounts Payable and General Ledger would be advantageous.

Publicly scheduled dates, locations, and prices

Outline Course Contents

Overview of Oracle Asset Management Process

• Overview of Oracle Assets
• Integration
• Assets Key Flexfields
• Implementing Assets
• Asset Books and Categories
• Adding Assets Manually
• Mass Asset Additions Process
• Adding and Capitalizing a CIP Asset
• Acquire and Build CIP Assets
• Asset Adjustments
• Physical Inventory
• Depreciation
• Calculating Depreciation
• Tracking Asset Retirements
• Assets Journal Entries
• Viewing Asset Information On-Line
• Assets Reporting
• Creating A Tax Book
• Entering Information In Tax Books

Asset Controls Set Up

• Oracle Assets Setup Steps
• Setup Steps Flow
• Oracle Assets Key Flexfields
• Defining Key Flexfields
• Asset Category Key Flexfield
• Location Key Flexfield
• Asset Key Key Flexfield
• Creating Key Flexfield Combinations
• Specifying System Controls
• Quick Codes
• Defining Fiscal Years And Calendars
• Setting Up Fiscal Years
• Setting Up Asset Calendars
• Sharing Calendars
• Profile Options
• Maintaining Audit Trails

Asset Books

• Asset Books Positioning
• Asset Books Regions
• Calendar Region
• Accounting Rules Region
• Natural Accounts Region
• Security By Book
• Organisations and Security By Book
• Use of Security By Book Within Process Flow
• Security By Book Set Up Steps
• Troubleshooting Security By Book

Asset Categories

• Asset Categories
• Asset Categories Set Up

Manual Asset Additions

• Adding Assets Manually
• Asset Additions Required Data
• Quick Additions
• Detail Asset Additions
• Asset Cost Terminology
• Depreciate Check Box Actions
• Detail Additions - Assignments and Source Lines Window
• Manual Asset Additions Journal Entries

Mass Asset Additions

• Mass Asset Additions Process
• Using The Mass Additions Interface Table
• Adding Assets From Invoice Distribution Lines
• The Mass Additions Process
• Mass Additions Create
• Requirements To Create Mass Addition Lines
• Tracking Expensed Items In Oracle Assets
• Other Mass Additions Considerations
• Prepare Mass Additions
• Mass Addition Queues
• Changing Asset Information
• Merging Mass Addition Lines
• Splitting Mass Addition Lines
• Adding A Mass Addition To An Existing Asset
• Accounting For Cost Adjustments Example
• Post Mass Additions
• Effect On Post Mass Additions On Queue Names
• Delete Mass Additions
• Purge Mass Additions
• Future Transactions
• View Pending Transactions

CIP Asset Additions

• Adding And Capitalising A CIP Asset
• Acquire And Build CIP Assets
• Automatically Adding CIP Assets To Tax Books
• Modifying The Cost Of CIP Assets
• Capitalising A CIP Asset
• Reversing A Capitalised Asset
• Recording A Capitalisation
  • Adding And Capitalising In The Same Period
  • Adding And Capitalising In Different Periods
• CIP Assets and Oracle Projects
• Capital Projects Flow Integration
• Creating Mass Additions From Oracle Projects
• Integrating Oracle Projects With Oracle Assets

Asset Adjustments

• Asset Adjustment Overview
• Single Asset Reclassification
• Mass Reclassification
• Inheriting Depreciation Rules
• Mass Transactions Process
• Adjusting Units
• Adjusting Financial Information
• Expense Or Amortise Depreciation Adjustments
• Using Mass Changes
• Single Asset Transfers
• Mass Asset Transfers
• Performing Physical Inventory
• Entering Physical Inventory
• Physical Inventory Comparison
• Physical Inventory Reconcilliation

Depreciation

• Elements Of Depreciation
• Basic Depreciation Calculation
• Depreciation Methods
• Using The Life-Based Method
• Using The Flat-Rate Method
• Prorate Conventions
• Run Depreciation Process
• Depreciation Program Processes
• Rollback Depreciation
• Projecting Depreciation for an Asset
• Defining a Projection
• Depreciation Forecasts
• Using Depreciation Override
• Depreciation Reports

Asset Retirements

• Tracking Asset Retirements
• Overview of Retiring an Asset
• Restrictions on Retirements and Reinstatements
• Fully Retiring Assets
• Partially Retiring Assets
• Mass Asset Retirements
• Reinstating Retired Assets
• Calculate Gains and Losses Program
• Retirement Processing Flow
• Processing a Pending Retirement And Reinstatement
• Calculating Depreciation for the Period Retired
• Recording Retirements and Reinstatements
• Retirement Reports

Asset Accounting

• Assets Journal Entries Flow
• Journal Entries Created
• Account Generator
• Default Account Generator Process for Oracle Assets
• Account Generator Example - Build Asset Cost Account
• Generating Reports to Reconcile to the General Ledger
• Reconciling Asset Cost Accounts
• Reconciling a CIP Cost Account
• Reconciling a Reserve Account
• Reconciling Depreciation Expense
• Reconciling Mass Additions

Asset Enquiry and Reporting

• Asset Inquiry Options
• Viewing Financial Information
• Viewing Transaction History
• Viewing Transaction Accounting
• Assets Reporting
• Assets Reports Groupings
• Variable Format Reports

Tax Accounting

• Creating a Tax Book
• Asset Books Regions
• Prerequisites for Setting up Tax Book Asset Categories
• Entering Information In Tax Books
• Populating the Tax Book
  • By Initial Mass Copy
  • By Periodic Mass Copy
• Updating a Tax Book Manually
• Tax Rules
• Deferred Depreciation
• Calculating Deferred Depreciation
• Adjusting Accumulated Depreciation
• Adjusting Depreciation Reserve
• Controlling Mass Depreciation Adjustment
• Calculating Mass Depreciation Adjustment
• Automatically Adding CIP Assets to Tax Books
• General Tax Reports
• Special Tax Reports
• Depreciation Adjustment Reports

Asset Management Exercises

• Create a Value for an Asset KFF Location
• Create a Location KFF Combination
• Add Quickcode Values
• Create an Assets Calendar
• Define an Asset Book
• Add Asset Category KFF Values
• Define Asset Categories
• Add Asset Categories to an Asset Book
• Add an Asset Using Quick Additions
• Add an Asset Using Detail Additions
• Add an Asset with Multiple Assignments
• Detailed Addition with a Distribution Set
• Create Mass Addition Lines
• Prepare Mass Addition Lines
• Post Mass Additions
• Create a CIP Asset and Add Costs
• Add a CIP Asset Cost Via Mass Additions
• Capitalize a CIP Asset
• Perform Single Asset Adjustments
• Perform a Mass Change
• Create a New Depreciation Method
• Create a Prorate Convention
• Set up a Physical Inventory
• Create and Compare a Physical Inventory using Integrator
• Add Assets using Integrator
• Run Depreciation
• Run a Depreciation Projection
• Perform a Retirement and Reinstatement
• Create and Review Journal Entries
• Perform Asset Inquiries
• Define a Tax Asset Book
• Add Asset Categories to a Tax Book
• Perform an Initial Mass Copy
• Manually add an Asset to a Tax Book
• Run Depreciation for a Tax Book
• Adjust Depreciation Reserve
• Add a Leased Asset