Asset Revaluation Configuration – GAM Zeroing Method
in Assets
Summary:
We want to implement the GAM (Government Accounting Manual) "zeroing" method for UK asset revaluation in Oracle Fixed Assets
Content (please ensure you mask any confidential information):
Our requirement is that on formal revaluation, cumulative depreciation must be fully eliminated (zeroed out) and the gross asset cost adjusted to the revalued amount, with the entire revaluation gain recognized in the Revaluation Reserve. The revaluation gain is calculated as the difference between the revalued amount and the asset's net book value at the date of revaluation.
How can we achieve this by enabling Revaluation in Oracle Cloud Fixed Assets
Version (include the version you are using, if applicable):
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