Difference in Fixed Asset Transfer and Location Transfer

Hi, I have a question more from business process perspective. In what scenarios would Location transfer be used vis a vis asset transfer, and how will accounting differ for both? Should location transfer generate JEs in any case? 

Please consider the scenario that although client has multiple companies, assets are held at the Corporate Level (say Co 00001). So while doing data conversion, only Finance BU (in Co 00001) has been selected as both location and responsible Business Unit.

Thanks for the help.