EAM92: No Notification That ARO Measurement Assets Exists When Original Obligation Asset Retired
Last updated on JUNE 14, 2017
Applies to:PeopleSoft Enterprise FIN Asset Management - Version 9.2 and later
Information in this document applies to any platform.
EAM92: No notification that ARO measurement assets exists when original obligation asset retired.
When the ARO obligation asset is retired, the user is not notified that an ARO measurement asset is linked to the asset that is being retired.
The user should be notified in order to avoid ARO measurements being unrecognized in the system.
Create an asset and make available to attach ARO measurements.
Add measurement lines to the asset, to create an ARC asset and an ARO liability.
Calculate depreciation on all assets.
Retire the asset that you made available to attach ARO measurements, that asset will retire with no warnings that an ARC asset nor a ARO liability should be recognized with this asset. There should be a warning that this asset has an ARC and ARO liability associated with it.
Question 1: Is this working as designed?
Question 2: Client is also requesting that when they retire ARO measurement asset, the accounting guidance allows them to continue maintaining accretion liability schedule. Is there system functionality or configuration that would allow for this to occur? Are there plans to make this functionality available in future enhancements if this capability doesn't exist in 9.2 functionality?
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