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Fixed assets transactions are recorded and maintained in an Asset Book ... when we say Fixed asset module is at the Ledger Level it means, one asset book is enough for one Ledger ....there is no independant asset books required for every legal entity, operating unit etc ....
If Fixed asset module is at Operating unit level, it means an asset book are to be created for every operating unit .....like other subledger modules....
You can refer to Assets User Guide which contains clear overview on the basics.
Please know that Fixed Assets doesn't operate at a Multi-Org Access Control (MOAC) level. It operates at a Book Level.
Each created Book has to be attached to a Ledger. Multiple Books can be attached to a Ledger.
As Ivruksha has rightly pointed out, you will have to implement the Asset Book at the level you need.
Please know, once a Book is created, it will be "Visible" to every user who logs in.
To restrict the same, you will have to use a Setup called: Security By Book.
You can use the Note: Security by Book White Paper (Doc ID 111129.1) for further clarity on the same.