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Reversal Of Prior Asset Impairments Not Allowed (Doc ID 1301792.1)

Last updated on JANUARY 11, 2021

Applies to:

Oracle Assets - Version 12.1.1 and later
Information in this document applies to any platform.


The System does not allow the reversal of prior asset impairments.

The issue can be reproduced at will with the following steps:
1)  Add an asset
2)  Perform impairment with some amount
3)  Run depreciation and close period
4)  In the next period, attempt to reverse the impairment

The issue has the following business impact:
Due to this issue, users cannot reverse the Prior Impairments as per the Requirements in IAS 36
- Reversal of an impairment loss should be recognized as income (IAS 36.119)
- Increased carrying amount should be no greater than what the depreciated
historic cost would have been had there been no impairment. (IAS 36.117)


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