I'm testing depreciation calculation with an asset placed in service in Q3 and retired in Q4. I am using MID-QUARTER as both the prorate convention and the retirement convention. According to Oracle documentation,
MID-QUARTER CONVENTION: Takes half a quarter of depreciation in the quarter you acquire the asset. Takes half a quarter of depreciation in the last quarter of asset life. For a retirement convention, take half a quarter of depreciation in the quarter you retire the asset. An asset is considered retired on the midpoint of the retirement quarter.
Without getting into too much detail, I'm getting significantly more depreciation expense in the 3 months I held this asset than I expected. I'm using a table based depreciation method so I'm expecting to get accumulated depreciaiton equivalent to 1/4 of the annual depreciation based on the rate table based on my possibly flawed interpretation of the MID-QUARTER CONVENTION as it is described above .