How handle 50% bonus depreciation for 2010 in Oracle Financials Fixed Assets?
As you may be aware, President Obama recently extended the 50% bonus depreciation to 2010. Currently the tax books are not set up to calculate bonus depreciation in 2010. We thought about using Unplanned depreciation in the tax books for this task, as per the user manual, "you also can use this feature to handle unusual accounting situations in which you need to adjust the net book value and accumulated depreciation amounts for an asset without affecting its cost." However, we (and many other companies) use accelerated methods for tax deprecation, not STL.
The Unplanned Depreciation functionality is not available
0