Asset Lifecycle Management - PSFT (MOSC)

MOSC Banner

Fully depreciated asset has been revalued requires an extended useful life end date

edited Jul 19, 2020 2:14PM in Asset Lifecycle Management - PSFT (MOSC) 3 commentsAnswered

Hi gurus,

Our PeopleSoft Asset Management system was implemented by a team from India and they implemented using the Straight Line Percent Method.

We have the following situation on a small number of assets, where for example an asset's current is 87k has been fully depreciated as at Period 12 / Year 2018.
Sometime in 2019, a decision was made to revalue the asset to be 229k.  No change was made to the depreciation method; and the full amount went to PDP for Period 12 / Year 2019.  In Jan-2020, a further review of the same asset, it was noted that the useful life end of the asset should have been set to 31/12/2030.

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in to My Oracle Support Community.

Register

Don't have a My Oracle Support Community account? Click here to get started.

Category Leaderboard

Top contributors this month

PSFT ALM Tags

Instructions for posting

×

1. Select a discussion category from the picklist.


2. Enter a title that clearly identifies the subject of your question.


3. In the body, insert detailed information, including Oracle product and version.


Please abide by the Oracle Community guidelines and refrain from posting any customer or personally identifiable information (PI/CI).


Cloud / Fusion customers - Our Cloud community has moved! Please go to Cloud Customer Connect .


New to My Oracle Support Community? Visit our Welcome Center

MOSC Help Center