Partial Retirement for Multi Distributed Assets Is Showing Incorrect Accounted Amount for Accumulated Impairment Reserve Account (Doc ID 2917104.1)

Last updated on DECEMBER 21, 2022

Applies to:

Goal

Partial retirement for multi distributed assets is showing incorrect accounted amount for accumulated impairment reserve:

Example: the asset 007:
- In P01 it disposed of 2 units from the 8 units at location/unit 32505.
- This location/unit had an accumulated impairment reserve amount of $1,506.05 and a net book value of $0.00.
- But when the system booked the disposal/sale of the 2 units it debited the accumulated impairment account the full $1,506.05 instead of just the impairment amount for 2 units
(impairment amount for 2 units should have been $376.51)
and debited the cost or other basis of fixed assets account for $5,082.90 (which is the impairment amount for the 27 units of this asset that is at location 32520) which is now showing as the NBV for these 2 units.

It also credited the full total of the impairment for both locations.

So now for this disposal asset has a NBV that shouldn’t be there, an increase to the overall impairment of the asset by $5,082.90 and an overall NBV that is a credit for $5,082.90
 

Solution

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