Oracle Fusion Cloud Financials: Assets Fundamentals Ed 5

Overview of Assets Fundamentals

• Course Objectives
• Lesson Objectives
• Course Approach
• Course Schedule
• Course Schedule Day Three and Four
• Asset Life Cycle
• Understanding Assets
• Assets Tasks
• Assets Reports
• Asset Inquiry
• Practices
• Summary

Configuring Assets

• Lesson Objectives
• Implementing Assets
• Planning Your Implementation
• Inquiring About Your Company’s History
• Obtaining Existing Asset Information
• Determining the Conversion Period
• Define Fixed Assets Configuration
• Define Fixed Assets Configuration for Rapid Implementation
• Prerequisite Setup
• Creating a New Assets Implementation Spreadsheet
• Updating an Existing Assets Implementation
• Managing Assets Key Flexfields and Value Sets
• Location Key Flexfield Implementation Considerations
• Location Key Flexfield Implementation Details
• Category Key Flexfield Implementation Considerations
• Defining Your Category Flexfield Segments
• Managing Asset Locations
• Defining Asset Locations
• Asset Key Flexfield Implementation Considerations
• Defining Your Asset Key Flexfield Segments
• Alias Support for Asset Key Flexfields
• Practice Overview: Reviewing and Defining Asset Key Flexfields
• Defining Your System Controls
• System Controls Implementation Considerations
• Practice
• Managing Fiscal Years and Calendars
• Fiscal Year
• Defining Fiscal Years
• Fiscal Year Implementation Considerations
• Asset Calendar
• Defining Asset Calendars
• Multiple Calendars in Assets
• Calendar Implementation Considerations
• Calendar Implementation Details
• Prorate Conventions
• Prorate Convention Considerations
• Prorate Convention Examples
• Half-Year and Following Month Prorate Examples
• Retirement Conventions
• Prorate Convention Implementation Considerations
• Prorate Convention Implementation Examples
• Aligning Prorate Convention and Prorate Calendar
• Mid-Month Prorate Convention Example
• Optional Implementation Steps
• Practices Overview: Configuring Assets
• Summary

Managing Asset Books and Categories

• Lesson Objectives
• Managing Asset Books
• Corporate Books
• Asset Book Setup Part One
• Asset Book Setup Part Two
• Approvals for Fixed Asset Transactions
• Define Approval Rules for Asset Transactions
• Asset Book Accounts
• Reference Data Groups Rules
• Revaluation Rules
• Revalue Fully Reserved Assets Without Extending the Assets Life
• Advanced Rules
• Invoice Rules
• Using Rule-Based Asset Book Defaulting for Invoices Transferred from Payables
• Enabling the Revaluation and Advanced Rules Tab
• Enabling the Revaluation Tab
• Enabling Group Depreciation
• Enabling Capitalization Thresholds
• Allowing Direct Asset Additions to Tax Book
• Including Source Lines When Copying Assets to Tax Books
• Enabling Derivation of Asset Location from Payables Invoice Ship-To Location
• Deriving Asset Location From Invoice Ship-To Location
• Using the Update Assets Configuration Spreadsheet to Create a Location Mapping
• Practices
• Tax Books
• Asset Books and Ledgers, Subledgers, and Business Units
• Asset Books, Ledgers, Subledgers, and Business Units
• Asset Book Implementation: Considerations
• Defining Multiple Depreciation Requirements
• Defining Multiple Currency Representations
• Defining Multiple Accounting Representations
• Implementation Questions
• Secondary Ledgers and Tax Book Considerations
• Reference Data Sharing Across Asset Books
• Reference Data Sharing Overview
• Determinant and Determinant Types
• Set-Enabled Objects in Assets
• Assignments to One Set Only with Common Values
• Assignments to One Set Only with No Common Values
• Reference Data Sharing: US Company Example
• Reference Data Sharing: Multinational Company Example
• Asset Categories
• Managing Asset Categories
• Defining the Create Category Header Section
• Asset Category Accounting Rules
• Defining Oracle General Ledger Accounts
• Defining Default Rules for Depreciation
• Category Implementation: Considerations
• Managing Cash-Generating Units
• Cash-Generating Units Example
• Managing Distribution Sets
• Defining Distribution Sets
• Managing Profile Options
• Profile Options Settings
• Asset Profile Options
• Additional Asset Profile Options
• Managing Lookups
• Lookups in Assets
• Managing Descriptive Flexfields
• Asset Descriptive Flexfields
• Managing Descriptive Flexfields
• Asset Keys
• Managing Asset Keys
• Practices
• Summary

Adding Assets

• Lesson Objectives
• Additions Overview
• Additions Infotile
• Detail Table for Additions Infotile
• Asset Addition Options
• Detailed Business Processes Integration
• Manual Additions
• Creating Additions from Payables, Projects Costing, and Other Source Systems Overview
• Automatically Derive Depreciation Expense for Assets
• Assets Additions Requiring Data
• Add Asset Page
• Adding Assets Manually
• Segregation of Asset Transaction Entry & Transaction Posting Duties
• Accessing the Assets Landing Page
• Assets Landing Page
• Asset Cost Terminology
• Accumulated Depreciation Considerations
• Depreciate Checkbox Actions
• Manual Asset Additions Journal Entries
• Using a Spreadsheet with Transactions
• Segregation of Asset Transaction Entry & Transaction Posting Duties Using Spreadsheets
• Segregation of Asset Transaction Entry & Transaction Posting Duties Using Spreadsheets – Process Steps
• Spreadsheet-Based Mass Detail Changes for Assets
• Practice
• Assets Capitalization Thresholds
• Enabling Assets Capitalization Thresholds
• Set Capitalization and Low Value Thresholds
• Low Value Asset Depreciation Rules
• Cost Write-off Account
• Group Depreciation
• Group and Member Asset Rules
• Assigning Member Assets to Group Assets
• Group Asset Reserve Transfer
• Mass Additions Process Overview
• Using the Mass Additions Interface Table
• The Mass Additions Process
• Step 1: Create Mass Additions
• Requirements to Create Mass Addition Lines
• Tracking Expensed Items in Oracle Assets
• Other Mass Additions Considerations
• Adding Asset Location During the Create Mass Additions Process
• Allowing Expense Type Account as Asset Clearing Account for GASB 34
• Transferring Accrue at Receipt Invoices for GASB 34 Primary Ledger
• Transferring Invoices Steps 1 and 2
• Transferring Invoices Step 3
• Step 2: Prepare Mass Additions
• Required Fields for Mass Additions
• Mass Addition Queues
• Prepare Source Lines
• Prepare Source Lines Entered Through Spreadsheet Integration
• Practice
• Merge Invoice Lines
• Practice
• Split Source Lines
• Merging Then Splitting Functionality
• Practice
• Adding a Mass Addition Line to an Existing Asset
• Practice
• Changing Asset Book While Preparing Source Lines
• Step 3 Post Mass Additions
• Effect of Post Mass Additions on Queue Names
• Step 4 Delete Mass Additions
• Best Practices
• Assets Best Practices
• Implementation Considerations
• Adding and Capitalizing a CIP Asset
• Practice
• Acquire and Build CIP Assets
• Automatically Adding CIP Assets to Tax Books
• Recording a CIP Asset Addition
• Capitalizing a CIP Asset
• Practice
• Reversing a Capitalized Asset
• CIP Assets and Projects
• Tracking Capital Projects in Projects
• Capital Projects Flow Integration
• Creating Mass Additions from Projects
• Integrating Projects with Assets
• Capitalizing Fixed Assets Upon Purchase Receipt
• Additions Watchlist
• Track Transactions by Asset Sources
• Job Roles
• Summary

Leasing Assets

• Lesson Objectives
• Overview of Asset Leases
• Setting Up Asset Book and Payables for Leases
• Setting Up Asset Category for Leases
• Setting Up Asset Category Accounts
• Creating and Managing Leases
• General Lease Information
• Lease Financial Terms
• Payment Schedules
• Payment Types
• Creating Leased Asset Additions
• Recognizing Finance and Operating Lease Expenses
• Calculating Monthly Lease Interest for Non-Monthly Asset Lease Payments
• Generate and Transfer Lease Payment Invoices
• Generate Lease Payment Invoices for a Date Range
• Asset Lease Standard Reports
• Reporting Currency Conversion for Asset Leases
• Practice Overview: Leasing Assets
• Summary

Asset Adjustment and Maintenance

• Lesson Objectives
• Manage Asset Adjustments and Transfers
• Adjustments Infotile
• Mass Transaction for Single or Mass Adjustments
• Practice
• Adjusting Financial Information
• Practice
• Expense or Amortize Depreciation Adjustments?
• Amortizing Adjustments Using a Retroactive Start Date
• Single Asset Transfers
• Practice
• Transfers Infotile
• Manage Mass Category Change
• Mass Category Change
• Practice
• Inheriting Depreciation Rules
• Copying Category Descriptive Flexfield Information
• Using Mass Changes
• Mass Asset Transfers
• Mass Transaction for Single or Mass Adjustments
• Manage Financial Transaction
• Practice
• Single Asset Category
• Recording a Category Change
• Adjusting Units
• Summary

Physical Inventory

• Lesson Objectives
• What is Physical Inventory?
• Taking a Physical Inventory
• Physical Inventory Flag
• Uploading Physical Inventory Information
• Comparing Asset Attributes
• Physical Inventory Comparison Overview
• Physical Inventory Comparison Process – Matching Asset Number
• Physical Inventory Comparison Process – Tag or Serial Number
• Physical Inventory Comparison Process – Updating Asset Rows
• Physical Inventory Status Descriptions
• System Only Physical Inventory Status Descriptions
• Corrective Action for Location and Unit Differences
• Corrective Action for Employee Differences
• Corrective Action for Assets Not in Book, Non-Inventorial, and Multiple Match Differences
• Practice
• Summary

Depreciating Assets

• Lesson Objectives
• Depreciation Infotile
• Managing Depreciation Rules
• Elements of Depreciation
• Basic Depreciation Calculation
• Defining Depreciation Methods
• Using the Life-Based Methods
• Life-Based Method Terms
• Using the Flat-Rate Method
• Using the Units-of-Production Method
• Bonus Rule Uses
• Defining Bonus Rules
• Calculating Bonus Depreciation
• Automatically Recapture Bonus Depreciation
• Depreciation Ceiling Uses
• Run Depreciation Process
• Practice
• Depreciation Forecasts What If Analysis
• Summary

Retiring Assets

• Lesson Objectives
• Retirements Infotile
• Tracking Asset Retirements
• Overview of Retiring an Asset
• Fully Retiring Assets
• Practice
• Partially Retiring Assets
• Mass Asset Retirements
• Practice
• Search for Single or Mass Retire Assets
• Settings that Affect Mass Retirement
• Post Online Assets Transaction Job
• Recording Retirements
• Recording a Retirement on Multiple Accounts
• Retirement Journal Entries Example
• Reinstating Retired Assets
• Practice
• Reinstatement Restrictions
• Recording Retirements and Reinstatements
• Summary

Accounting and Reporting on Assets

• Lesson Objectives
• Business Needs
• Assets Journal Entries Flow
• Subledger Accounting
• Assets Accounting Event Model
• Define Subledger Accounting Rules
• Simultaneous Accounting in Multiple Ledgers
• Generate Accounting Entries in Multiple Currencies
• Reconciling Fixed Assets and Payables for Secondary Ledger Asset Additions
• Practice
• Create Accounting
• Accounting Activity
• Journal Entries Created
• Other Journal Entries Created
• Adjusting Journal Entries and Depreciation Adjustments
• Practice
• Online Inquiry and Reporting
• Online Inquiries: Asset Inquiry Landing Page
• Practice
• Asset Landing Page
• Standard Reports
• Summary

Creating and Using Tax Books

• Lesson Objectives
• Tax Books
• Creating a Tax Book
• Asset Books Regions
• Tax Rules Tab
• Allowing Direct Asset Additions to the Tax Book
• Including Source Lines Information in Tax Books
• Practice
• Prerequisites for Setting Up Tax Book Asset Categories
• Practice
• Entering Information in Tax Books
• Populating the Tax Book Using Initial Mass Copy
• Populating the Tax Book
• Populating the Tax Book Using Periodic Mass Copy
• Practice
• Deferred Depreciation
• Calculating Deferred Depreciation
• Automatically Adding CIP Assets to Tax Books
• Comply with IRS Property Tax Sections 1245 and 1250
• Comply with IRS Property Tax Setup Detail
• Summary