Gain / Loss Amount Not Generated on Asset Retirement Or Salvage Value Not Considered at Retirement for Reserve Retired (Doc ID 1602480.1)

Last updated on JUNE 14, 2017

Applies to:

Oracle Assets - Version 12.1.3 and later
Information in this document applies to any platform.
FARET

Symptoms

 

Gain / Loss Amount was not generated correctly on asset retirement

Expect:  Gain/Loss = Proceeds of Sale - Cost of Removal - Net Book Value Retired +  Reserve Retired

but Reserve Retired is not being considered.

OR Salvage value is not accounted for in calculation of reserve amount to retire for retired asset (ie Reserve Retired incorrect)

Steps to Reproduce for G/L scenario:

1.Add Asset         *** Aug-2013

ItemValue
Book Corporate book
Cost 4100000
YTD depreciation amount 0
Accumulated depreciation amount 0
Depreceiate On
Depren method JP-DB 8YR (0.25)
DPIS 28-FEB-2000
Salvage value 410000 (10 %)
Depreciation limit amount 205000 (95%)

   * Generated Expense : 3895000
      And this assets is fully reserved.

2.Partial Retirement *** Sep-2013

ItemValue
Retire Date 30-SEP-2013
Cost Retired 410000
Retirement Convention Monthly Convention

 

Cause

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