Is there an automatic adjustment for catchup depreciation when loading assets with new method?
Summary:
Hi,
We are converting assets from legacy that use "Fiscal Year" as the prorate convention - these assets will be loaded into Oracle Cloud using a "Monthly" prorate convention. We would like to confirm if we load the assets with reserve amounts from legacy (using fiscal year prorate) that there would not be an adjustment to the catchup depreciation to calculate the reserve based on the new prorate convention and life remaining?
Would the new prorate convention only be applied to the depreciation going forward from the date of conversion or from when the asset was placed in service?
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