Oracle Fixed Assets Revaluation

Facebook Page:- / caarvindvaraganti

[@nazir309]

I have 15 years of experience in working in Oracle EBS, and I highly recommend this video. Simple, concise, covering many scenarios - and everyting is done effortlessly. Keep the good work.

[@OracleEbizandFusionVideos]

Thanks for your feedback

[@ayatelnabawy6696]

What is the impact of enabling only (Amortizing Revaluation Reserve) on the accounting entries?

[@Abhishekgupta56]

Your Video help alot me in my work, Can you please share with us the PPT and Excel sheets, it will be very useful for all of us. Thanks for your Valuable Videos

[@OracleEbizandFusionVideos]

Sure... Please subscribe to my telegram channel where i share all PPT's and concerned excel sheets discussed in the videos

[@ayatelnabawy6696]

Hi Arvind, in case no. 3 and 4; when we run depreciation, is the new depreciation expense will be debited against the accumulated reserve or the revaluation reserve?

[@gabrielgobierno6045]

Is it the same to revalue than to change the value of the cost? If not, what is the difference? I appreciate you uploading this type of videos that help us a lot to the oracle community.

[@OracleEbizandFusionVideos]

In a sense, what you said is right, Revaluation is nothing but adjusting the cost of the Asset, but with revaluation process, you have couple of benefits:- 1. You can adjust thousands of assets in a single go using revaluation process instead of performing cost adjustment manually for each asset 2. As mentioned in my video, you have different options of accounting treatment for Accumulated dep, YTD dep etc.. with reval process which might not be possible with individual cost adjustment

[@gabrielgobierno6045]

@@OracleEbizandFusionVideos Thank's for you answer, I apprecciate you support

[@ayatelnabawy6696]

Hi Arvind, Is it a allowed to (Amortize Revaluation Reserve) "WITHOUT" (Retire Revaluation Reserve) ?

[@ManojKumar-qt8oy]

Thanks for the Video! Can you please post a video on Asset Impairment also? I am not sure why we use Asset Impairment when we have the Revaluation and also the revaluation flags at Books controls should be enabled for Asset Impairments

[@OracleEbizandFusionVideos]

Sure

[@ssingh18]

Telegram channel name pls

[@SumitKumar-uj8jo]

Nice

[@OracleEbizandFusionVideos]

Thanks

[@kemalyetkin1092]

Your video is really helpful, thank you very much for your efforts.🙏 Our tax department has a request; Our active FA period is JUN-2022. But, our tax department requests that the valuation be made with the accumulated depreciation amount calculated as of the end of DEC-2021. Even though the active FA period is JUN-2022, is it possible to make a valuation over the accumulated depreciation amount as of the End of DEC-2021?

[@OracleEbizandFusionVideos]

If your current open period is JUN-2022, then you would have already ran depreciation upto Jun-2022, so, i am assuming that accumulated depreciation account already has depreciation amount calculated upto Jun-2022. But if you want to backout the depreciation for the last six months, then one option would be to enter negative amount (Which is equal to last six months of depreciation) under unplanned depreciation and this should bring back the accumulated depreciation amount to a value which would have existed as of end of Dec-2021... Give this option a try in your test environment

[@kemalyetkin1092]

@@OracleEbizandFusionVideos Thank you very much for your answer and help.

[@OracleEbizandFusionVideos]

You are welcome

[@gangavarapurao2170]

Great, come to the point while doing the revaluation for an asset, I can able to see YTD depreciation (600/-) remain same even after doing the revaluation, but accumulated depreciation becomes 780/-. Now question is how to nullify the difference between YTD depreciation and accumulated depreciation at month end or at year end.

[@OracleEbizandFusionVideos]

Hope you are referring to scenario 1, under this scenario we have checked Revalue accumulated depreciation checkbox and hence 180 dollars i.e. the diff between 780 and 600 is moved to revaluation reserve account

[@gangavarapurao2170]

@@OracleEbizandFusionVideos Thanks,

[@oraclecloudfusiontechnolog1825]

Very useful for me as a beginner, If you have time, can you please explain about different types of depreciation method such as STL method, Calculated, Fix Rate, Formula with simple example. If possible please explain about Asset Impairment concept.

[@OracleEbizandFusionVideos]

Sure... Let me add these topics to my To do list

[@Raj-xw1lv]

Its nice tutorial but m got little bit confused after watching the revaluation.. In this video m unable to understand the jun and july depreciation in all 4 scenarios..as depreciation is Asset cost/life in months=Depreciation per month..In Apr and may depreciation as per my concept is right 1200/4=300 but after revaluation its getting changed in all scenarios..please bring some light on my issue..

[@OracleEbizandFusionVideos]

In this example, after revaluation, book value of the asset increased and hence the depreciation amount for Jun and Jul changed. Its not same as that of Apr and May

[@Raj-xw1lv]

Jun and july depreciation expense must be same in all the 4 scenarios as depreciation is 300 on 1200 cost..After revaluation 30% depreciation expense of jun and july 30% of 300 that is 390.. In short depreciation expense must not be differ for june and july month in all scenarios it should be same as revalauation is doing 30% in all 4 scenarios..

[@OracleEbizandFusionVideos]

Please note that the depreciation amount is changing in all the 4 scenarios because you are changing the setups for Reval Acc Dep, Reval YTD Dep, Retire Reval Reserve and Amortize Reval Reserve

[@Raj-xw1lv]

@@OracleEbizandFusionVideos Then let me know the depreciation calculation of July month that comes 480 and 390 of Aug month in Ist scenario..In video you have not shown the calculation of Ist scenario..

[@OracleEbizandFusionVideos]

Under Scenario 1:- Where Reval Acc Dep is set as Yes:- Depreciation for Jun-18 is (1560-600)/2 = 480 Depreication for Jul-18 is (1560-780)/2=390

[@sajjawalhussain3637]

Hi,come to point if we create a Asset on 01.jan.2022. And already run the depriciation of jan. Feb. March.2022. with close the period and than revalue the Asset at 10% on April. Only the effect goes on 1 month revaluation we want to count far for 4month jan to Apr. Any solution ?

[@sajjawalhussain3637]

Date of revaluation is 1jan 2022

[@osamaahmed9585]

Thanks alot May I know how to deal with assets in foreign currency After currency revaluation generated gl jornal in assets clearing and the asset already posted now there is a balance in the clearing account in the trial balance???

[@OracleEbizandFusionVideos]

In general, Asset clearing account should have a zero balance. Whats your use case where there is a balance lying in Asset Clearing account?

[@osamaahmed9585]

@@OracleEbizandFusionVideos After currency revaluation

[@OracleEbizandFusionVideos]

I believe if the balance itself is "0", then running of revaluation process will not create any balance for that account.

[@PradhanSambit]

How is revaluation different from adjustment ? We can also change the cost in adjustment.

[@OracleEbizandFusionVideos]

You can see in my video there are couple of options on how you handle Revaluation adjustment which is not the case with cost adjustment

[@Raj-xw1lv]

As we have seen multiple times u r calculating depreciation of june and july in all 4 scenarios different way but as per my understanding 3 and 4th scenario depreciation of june and july is correct thats is 780..

[@OracleEbizandFusionVideos]

I think my video also shows that dep for Jun and Jul as 780. Am i missing something in your question?

[@papayyasastrychalla1872]

What are the fixed assets setups if u can put video on thar

[@OracleEbizandFusionVideos]

Sure

[@waynelau9994]

Hi. What can you do when you Preview the Mass Revaluation and there is an error in one of the assets. Can you delete this Mass Revaluation and reload again? Does Previewing book the revaluation in FA?

[@OracleEbizandFusionVideos]

Once FA Mass revaluation is performed is preview mode, its not updated the relevant FA tables yet...its just in preview mode... so you can very well delete the revaluation and make necessary adjustments to FA assets and then try to rerun revaluation process once again

[@martinez78245]

Can I use this method for impairments? Do you have a video for impairments?

[@OracleEbizandFusionVideos]

I will let you know once i create a video on Asset Impairements

[@azadsable2527]

Hello Arvind, can assets capitalized for the contingent worker or not.

[@OracleEbizandFusionVideos]

Your question is not clear. What do you mean by capitalizing of assets for the contingent worker?