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NBV Based Retirement

in Assets 3 comments

Summary:

Hello Members,

Any help on the following is much appreciated.

In Oracle FA, the maximum retirement that the user can post is that of the current cost. This current cost does not take into account the depreciation over the years. 

Question 1- Is there a possibility to retire by NBV? because consider a plant commissioned 10 years ago with current cost standing at 20 million and NBV standing at say 20,000 after being depreciated over the years. In such a case client would like to go retire the amount that accommodates the depreciation over the years i.e. the NBV. 

Question 2- If this is possible, how can I include this as part of retirement approvals? Oracle is now supporting workflows for asset retirement. Client would like to trigger workflow based on the amount of NBV retired. Say the above given asset is to be retired, since the actual value/NBV is only 20k, I would not like to include the board as approvers and probably just do with the department head and the manager. Current system design only allows cost retired as criteria for defining workflows.

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