Group Summary Report Enhancement to Add Cost Change for Retirements to Report (Doc ID 2828236.1)

Last updated on FEBRUARY 22, 2023

Applies to:

Goal

For member asset retirements

• Proceeds of sales for the retiring asset is added to the group accumulated depreciation
• Cost of removal is deducted from the group asset accumulated depreciation balance.
• Member Cost Retired is subtracted from the group accumulated depreciation balance AND the cost of the member asset is retired and deducted from the group asset cost.
• Any Gain and Loss may or may not recognized depending on the 'Recognize Gain And Loss option' setup.

Currently the Group Summary Report does not reflect the aforementioned cost change details on the Group Asset for the member retirements.  Instead it only shows the NBV (new book value) movement and depreciation basis for the Group Asset.

Solution

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