Fixed Assets - EBS (MOSC)

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Changing the useful life of an asset from 3-5 years without causing an adjustment

edited Feb 16, 2022 12:09PM in Fixed Assets - EBS (MOSC) 1 commentAnswered

Hi

We need to change an asset from 3 years UL to 5 Years UL, we want this to happen on the NBV of the asset as @ 31.12.21. So we do not want to adjust for prior depreciation, we want the remaining life of the asset @31.12.21 to be spread over the rest of the UL, is this possible? And can it be done so that Oracle does not automatically create an adjustment?

Example

Asset 1 original 3 years UL (retirement date 31/07/22), set live 31/08/19, NBV @ 31.12.21 $100. with new 5 yr UL (new retirement date 31/07/24) @ 01.01.22 would have an additional 2years 7 months left. We want to spread the $100 NBV over that 2.7 years.

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