R12 Overview of Oracle Asset Management

Overview of Oracle Asset Management
Release 12 Oracle Asset Management Fundamentals
Copyright 2007, Oracle. All rights reserved.
Objectives
After completing this module, you should be able to do the following: Describe the overall Oracle Asset Management process from Setup through asset data flow to the General Ledger Identify the key functional areas that are part of Oracle Asset Management
Agenda
Asset Management Process Overview Key Areas within Asset Management
Overview of Oracle Assets

Adjustments Asset Additions Transfers
Manual External
CIP
Retirements Online inquiry Reports Depreciation Taxes
Journal Entries
E-Business Suite Integration

Oracle Projects
Invoice Lines CIP assets Suppliers
Oracle Payables
Budget Information
Oracle Purchasing
Physical Inventory Asset Additions
Spreadsheet
Oracle Assets/iAssets
Journal Entries Units of Measure Item Information
Web ADI
Employees
Oracle Human Resources
Oracle Inventory Oracle General Ledger

Implementation Considerations for Oracle Financials
Oracle Applications without customization
Future Oracle upgrades
Costly future upgrades
The Best Project Team for the Job
Client experts
Implementation consultants
End users
Implementation team
Critical Implementation Issues
Identify critical implementation issues that affect multiple business areas: Shared information Information flows Open interfaces Non-Oracle systems
Oracle Assets Setup Steps

Optional
Unit of Measure Classes Units of Measure Employees Descriptive FF Numbering Suppliers Locations Combinations Asset Keys Combinations Security Investment Tax Credits Price Indexes Distribution Sets Leases Warranties Profile Options Insurance
Required
Ledger Asset Key Flexfield Asset Category Flexfield Location Flexfield System Controls Fiscal Years
Required w/Defaults
Account Generator QuickCodes Depreciation Methods
Calendars
Book Controls Prorate/Retirement Conventions Asset Categories
Oracle Assets Key Flexfields
To run the application, three key flexfields must be set up.
Asset Category Key Flexfield
Asset Location Key Flexfield
Asset Key Key Flexfield
Implementing Oracle Assets
1
Plan Implementation
2
Setup Asset Mgmt including iAssets
Convert Existing Asset Information
Reconcile With Previous System
Asset Books Positioning

New assets are assigned to a Category then to a Book
Corporate Tax
Asset Books
Assets Assigned to
Budget
Asset Categories
Asset Calendars
Assigned Depreciation Methods to

Asset Categories Positioning
Assign to
Added to
Assets Corporate Book Copied to
Attached to
Tax Book A
Asset Categories
Tax Book B
Asset Life Cycle

Manual Additions Quick Additions Detail Additions Birth of an Asset Oracle Payables Oracle Projects Other/ WebADI Legacy Systems
FA_MASS_ADDITIONS Asset Books Asset Retired Asset Depreciates

Adding Assets Manually

Quick Additions Detail Additions
Assets added applying default rules
Assets that require more information
Oracle Assets
Mass Asset Additions Process
Oracle Projects Oracle Payables Other Systems
FA_MASS_ADDITIONS Legacy System Asset Books

Web ADI
Adding and Capitalizing a CIP Asset
Add a CIP asset
Build a CIP asset
Depreciate the asset
Capitalize a CIP asset
Acquire and Build CIP Assets
Asset Lines
Oracle Projects FA_MASS_ADDITIONS Mass Additions Oracle Payables Manual Additions
CIP ASSET
Asset Adjustments
Unit Change Reclass
Change Financial Info
Transfer
Oracle Assets/iAssets
Changes via APIs
Asset Adjustment Overview
Adjustment
Action Performed
Mass Transaction Available

Yes
Reclassification Change Asset Category
Unit Change
Change Number of Asset Units Change Asset Cost and/or Depreciation Information
No
Financial Information
Transfer
Change Asset Assignment Information
Yes (Prorate Convention, Method, Life only) Yes
Performing Physical Inventory
Enter physical inventory
Run inventory comparison Reconcile differences
View comparison
Update assets manually

Elements of Depreciation
Prorate Convention Asset Books Prorate Calendar
Depreciation Method
Depreciation Calendar
Depreciation Ceilings
Depreciation
Units of Measure
Optional Elements
Investment Tax Credits
Price Indexes
Basic Depreciation Calculation

Prorate Convention FOL Month Prorate Calendar Prorate Period
Apr 15
Date Placed in Service Depreciation Expense per period
May 1
Prorate Date
Journal Entry
Get Rate
R = 20%
Rate Table
Depreciation Calendar, Divide Depreciation flag, and Depreciate When Placed in Service flag
Annual Depreciation
Multiply by Cost or Net Book Value
Tracking Asset Retirements

Asset Life
Automated addition Invoice Adjustment Transfer Manual addition
Depreciation Create journal entries

Assets Journal Entries Flow
Run Create Accounting Run Depreciation to Generate Accounts
Set up SLA In Asset Books: -Allow GL Posting -GL Ledger Name
No
Send entries to General Ledger

Yes Post entries
Run Transfer Journal Entries to GL

Default Account Generator Process for Oracle Assets

For example, the Operations Accounting flexfield structure from the Vision demo database is used. Company-Cost Center-Account-Product-SubAccount
Segment Name Company (Balancing Segment) Cost Center (Cost Center Segment) Account (Natural Account Segment) Product Default Segment Sources Distribution CCID (Assignments screen) Default CCID (Book Controls screen) Account Segment Value
Default CCID (Book Controls screen) Sub-Account Default CCID (Book Controls screen) CCID = Code Combination ID
Reconciling Data in Oracle Assets
Oracle General Ledger
Oracle Assets
Oracle Payables
Oracle Projects
Viewing Asset Information Online

Inquiry
Financial Information
Depreciation Book
Employee
Purchasing Information
Location
Invoice
Supplier
Oracle Assets Reporting

Oracle Assets Reports
Standard Reports
Variable Format Reports (RXi)
Report Manager
Assets Reports Groupings

Budget Reports CIP Reports Asset Listings Maintenance Reports
Setup Data Listings
Depreciation Reports
Accounting Reports
Responsibility Reports
Tax Reports Adjustment Reports
Transaction History Transfers Reports
Additions Reports
Mass Addition Reports
Retirement Reports Reclassification Reports
Mass Transaction Reports
Creating a Tax Book

Assets in Independent Asset Books
Corporate book FURNITURE.DESKS Straight-line 5 years MID-MONTH
Asset 325
Monthly calendar
Tax book
VEHICLE.OWNLUXURY Straight-line 4 years MID-MONTH Asset 843 FURNITURE.DESKS MACRS 5 years HALF-YEAR Asset 325
Quarterly calendar
VEHICLE.OWNLUXURY MACRS 4 years HALF-YEAR
Asset 843
Entering Information in Tax Books

Corporate Book
Initial Mass Copy
Periodic Mass Copy
Manual Entry
Tax Book
Tax Book
Tax Book
Transaction APIs
Submit transactions directly thru PL/SQL using APIs. Additions Adjustments Retirements and Reinstatements Transfer and Unit Adjustments Reclassifications Capitalizations Unplanned Depreciation Asset Description
Business Events
Business Events were first introduced in Oracle Workflow to: Provide subscription-based & cross-system processing for streamlined cross-product integration Eliminate trigger-based solutions or modification of standard code Simplifies implementation of custom programs Define post-event actions in the Event Subscription to: Pass information back to the system that originates the transaction Generate exception reports for trouble-shooting Send notifications to users
Asset Business Event Triggers
Asset Addition
Asset Transfer
Asset Retirement
Summary
After completing this module, you should now be able to: Describe the overall Oracle Asset Management process from Setup through asset data flow to the General Ledger Identify the key functional areas that are part of Oracle Asset Management

R12 Overview of Oracle Asset Management

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Overview of Oracle Asset Management

Release 12 Oracle Asset Management Fundamentals

Copyright 2007, Oracle. All rights reserved.

Copyright 2007, Oracle. All rights reserved.

Asset Management Process Overview Key Areas within Asset Management

Copyright 2007, Oracle. All rights reserved.

Overview of Oracle Assets

Retirements Online inquiry Reports Depreciation Taxes

Copyright 2007, Oracle. All rights reserved.

E-Business Suite Integration

Oracle Human Resources

Oracle Inventory Oracle General Ledger

Implementation Considerations for Oracle Financials

Oracle Applications without customization

Future Oracle upgrades

Costly future upgrades

Copyright 2007, Oracle. All rights reserved.

The Best Project Team for the Job

Copyright 2007, Oracle. All rights reserved.

Critical Implementation Issues

Copyright 2007, Oracle. All rights reserved.

Oracle Assets Setup Steps

Copyright 2007, Oracle. All rights reserved.

Oracle Assets Key Flexfields

To run the application, three key flexfields must be set up.

Asset Category Key Flexfield

Asset Location Key Flexfield

Asset Key Key Flexfield

Copyright 2007, Oracle. All rights reserved.

Implementing Oracle Assets

Convert Existing Asset Information

Reconcile With Previous System

Copyright 2007, Oracle. All rights reserved.

Asset Books Positioning

Assigned Depreciation Methods to

Asset Categories Positioning

Assets Corporate Book Copied to

Copyright 2007, Oracle. All rights reserved.

Asset Life Cycle

FA_MASS_ADDITIONS Asset Books Asset Retired Asset Depreciates

Adding Assets Manually

Assets added applying default rules

Assets that require more information

Copyright 2007, Oracle. All rights reserved.

Mass Asset Additions Process

Oracle Projects Oracle Payables Other Systems

FA_MASS_ADDITIONS Legacy System Asset Books

Adding and Capitalizing a CIP Asset

Add a CIP asset

Build a CIP asset

Depreciate the asset

Capitalize a CIP asset

Copyright 2007, Oracle. All rights reserved.

Acquire and Build CIP Assets

Oracle Projects FA_MASS_ADDITIONS Mass Additions Oracle Payables Manual Additions

Unit Change Reclass

Change Financial Info

Changes via APIs

Copyright 2007, Oracle. All rights reserved.

Asset Adjustment Overview

Mass Transaction Available

Reclassification Change Asset Category

Change Asset Assignment Information

Yes (Prorate Convention, Method, Life only) Yes