Sub ledger Accounting
Oracle Subledger Accounting provides
tools that allow users to meet multigaap, corporate, and fiscal accounting
requirements. With a flexible tool called Accounting Methods Builder, users can
determine the accounts, lines, descriptions, summarization, and dates of their
journal entries. Users can also add detailed transaction information to journal
headers and lines. Detailed subledger accounting journals are available for
analytics, auditing, and reporting. They are summarized, transferred, imported
and posted to Oracle General Ledger. For more details, please see the Oracle
Subledger Accounting section of this document. Oracle Assets is fully
integrated with Oracle Subledger Accounting for creating Journal Entries,
Account drill down and Inquiry. Oracle Assets provides several out-of-the-box
sources and rules to derive account code combinations and journal entry
descriptions. Customers can use the seeded Oracle Assets accounting definition
or they may use the flexibility of SLA to create their own definitions.
Enhanced Mass Additions Interface for Legacy Conversions
Additional attributes are
available in the Mass Additions interface to ease legacy data conversions.
Attributes such as asset life, depreciation method, prorate convention; bonus
rule ceiling name, depreciation limit, and others can now be directly imported
from your legacy system instead of being derived from asset category setups.
Automatic Preparation of Mass Additions
A set of extensible public API’s
is available to automatically prepare a mass addition line for all required
attributes such as depreciation expense account, asset category, location etc.
with the goal of minimizing manual intervention by the user in the mass
additions workbench.
Enhanced functionality for Energy Industry
• Asset
Impairment:
Impairment is used to reduce the carrying value of a producing asset. Expressed
another way, impairment expense is simply an unplanned depreciation expense.
When entering an unplanned depreciation expense, the user may enter a Type,
Amount and Expense Account. ‘Type’ allows the user to indicate the nature of
impairment performed. ‘Amount’ is recognized as a current period expense in
addition to the normal periodic depreciation expense. The unplanned
depreciation (impairment) ‘expense account’ may be derived from the category
setup or it may be entered at the time of each impairment transaction
• Energy Units of Production Method: In the oil & gas industry, asset properties may include
fields, leases and wells. These assets are typically associated with units of
production (UOP) and are depreciated using a special UOP depreciation method.
‘Energy’ assets are generally structured into two levels, group and member
assets, where the group asset is a collection of several members. Units of
production are entered on the group asset for calculating depreciation and then
allocated down to the member assets
• Energy Straight line Method: In the oil & gas industry, non-producing assets are
depreciated using the energy straight-line method based on the asset’s net book
value. Assets that depreciate using the energy straight-line method may either
depreciate at the member asset level or group asset level. When the
depreciation is calculated at the member asset level, it is calculated based on
each member’s life and then summed up to the group asset. When depreciation is
calculated at the group asset level, the life of the group asset is used
Flexible Reporting using XML Publisher
Oracle Assets leverages the
Oracle XML Publisher technology to support major asset transaction reports.
With XML Publisher, you can display reports in variable formats by creating
your own templates using familiar tools such as Acrobat, Word and Excel.
Automatic Depreciation Rollback
Since release 11i, users have
been able to run depreciation for an asset book without closing the period. If
additional adjustments are required in the current period, then the user
submits a process to roll back depreciation for the entire book performs the
necessary adjustment(s) and then resubmits the depreciation program. In Release
12.0 the intermediate manual step of rolling back depreciation for the entire
book in order to process further adjustments on selected assets is no longer
necessary. As before users may submit depreciation for the entire book prior to
closing the period. If it becomes necessary to process financial adjustments on
one or more assets, the user may proceed with the transaction normally via the
asset workbench or mass transactions. Oracle Assets automatically rolls back
the depreciation on just the selected assets (instead of the whole book) and
allows the transaction(s) to be processed normally. The asset(s) for which
depreciation was rolled back is automatically picked up during the next
depreciation run or at the time that the depreciation period is finally closed.
Enhanced Logging for Asset Transactions and Programs
Through the common logging
architecture, Oracle Assets ensures a common repository for all log messages
within and outside the product. This reduces resource usage on the file system
for excessively large log files.
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