Reinstating a fully-retired asset and changing the life doesn't recalculate depreciation
Hi All,
So, we have an asset that was retired in the May-12 period. It was then reinstated in order to change the life and amortize depreciation over the remaining life (9 months). When the asset was depreciated, their was a final deprecation adjustment to account for the remaining depreciation left at the time of retirement.
Date placed in service: March '08
Original life: 3y 9m
New life: 5y 0m
Business was anticipating that after reinstating the asset and changing the life, the depreciation would recalculate from before the retirement, but testing has shown this not to be the case.
Is there a way to get Oracle to reinstate the depreciation schedule and undo it's depreciation adjustment from May? We have run prelim depreciation and calculate gains and losses between each step, but depreciation and net book value remain at zero.
So, we have an asset that was retired in the May-12 period. It was then reinstated in order to change the life and amortize depreciation over the remaining life (9 months). When the asset was depreciated, their was a final deprecation adjustment to account for the remaining depreciation left at the time of retirement.
Date placed in service: March '08
Original life: 3y 9m
New life: 5y 0m
Business was anticipating that after reinstating the asset and changing the life, the depreciation would recalculate from before the retirement, but testing has shown this not to be the case.
Is there a way to get Oracle to reinstate the depreciation schedule and undo it's depreciation adjustment from May? We have run prelim depreciation and calculate gains and losses between each step, but depreciation and net book value remain at zero.
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