can I capitalise asset in prior period alongwith depr from prior period?

If fiscal calendar is from 2005 but current period in asset book is 2023, can I capitalise asset dated from 2005?

Business has assets from 2005 and want to capitalise them, however if I keep 2005 as the current period in asset book I'll have to close periods from 2005.

Additionally, if assets can be created from 2005 while current period is 2023, from when will the depreciation be calculated and how?