Overview of Oracle FA

The Fixed Assets (FA) module allows you to maintain equipment inventory, depreciation schedules using the best accounting and tax strategies.  It allows you to value assets using different classifications, such as Construction in Process (CIP) or expense items. This article will provide an overview of Oracle Fixed Assets and its features, functionalities, and key steps that need to be carried out for implementation.

With the Fixed Assets Module you can:

• Utilize Oracle Payables invoices to create Mass additions
• Monitor leasing information
• Share depreciation expenses among different accounting ‘companies’
• Depreciate as you use production material
• Easily transfer between ledger accounts

Features of Oracle Fixed Assets

Mass Additions

• Invoice lines automatically are added to a review status in the assets module
• Split single lines into multiple asset lines
• Combine multiple lines into single asset lines

Depreciation Management

• Calculate gains and losses separate from the depreciation books
• Create journal entries to the general ledger
• Utilize flexible depreciation calendars
• Make mass changes to assets due to tax law adjustments

Asset Revaluation

• Change asset value due to inflation or deflation
• Create a new amortization schedule due to revaluation
• Define limits to revaluation for any asset