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Can a CIP Asset from one Corporate Book be migrated to another Corporate Book without retirement?

in Assets 3 comments

Summary:

Can a CIP Asset from one Corporate Book be migrated to another Corporate Book without retirement? If so, what is the best practice?

Content (please ensure you mask any confidential information):

Hello,

A CIP Asset has been created in Asset Book "A". We need the Asset in Corporate Asset Book "B" now. Both books are under the same Legal entity. Without retiring the asset from the current Corporate Book, how can we transfer the asset from one Corporate Book to another?

Any adjustment of cost on the asset or Retirement would generate Journal entries in terms of cost and lost, which we would like to avoid. What would be the best practice for transfer?

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