Please Need Help!!! How to Record Extraordinary Repairs and Asset Improvements in FA?
How to record Extraordinary Repairs and Asset Improvements in FA?
Example of Extraordinary Repair that I want to handle in Oracle EBS
In 01-Jan-2009 a machine is adquired wtih a cost of $100.000, with 10 years life and Depreciation Method = STL
At the end of 2012 the Accumulated Depreciation for the machine is $40.000 and the NBV= $60000
At the beginning of 2013 an extraordinary repair of $20000 is made and the asset life is increased to 2 years.
As a result the new remaining life for the asset is: 10 - 4 + 2 = 8 years. Accumulated Depreciation will be debited by $20000 and the NBV will be $80000 ($60000 + $20000)
How can I record the extraordinary repair in Oracle Fixed Assets and the adjustment of Accumulated Depreciation Amount, Net Book Value and Life in Years?