Fixed Assets - EBS (MOSC)

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Asset Useful Life Change - Depreciation Calculation

edited Dec 23, 2022 7:35PM in Fixed Assets - EBS (MOSC) 2 commentsAnswered

After changing the life of an asset from 5yrs to 3 yrs we were expected the remaining depreciation to be based on the current NBV and spread depreciation over the remaining life.

Instead, Oracle FA made an adjustment in the current period (as though it had a 3yr life from the date placed in service).

User indicates this is not GAAP. Is there a way to change the life and have it spread the NBV over the remaining months.

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