Module 1: Asset Retirement and Reinstatement

Lab - 17 Asset Retirement and Reinstatement

Objective: Asset Retirement and Reinstatement
10-15 minutes

Instructions:
In this lab you will perform a partial asset retirement, run the Calculate Gains and Losses
program and then reinstate the retirement.. The tasks you will do in this lab are:

• You will perform a partial asset retirement

• Run the Calculate Gains and Losses
• Reinstate the retirement
• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA).

1. Navigate to the Asset Workbench:

• (N) Assets > Asset Workbench

2. Click (I) Find.

3. In the Tag Number field, enter XXBLDG.

4. In the Book field, enter OPS CORP

5. Click (B) Find.

6. Select (B) Retirements.

7. Enter the following data in the Retirements form:

Field Name Value

Book OPS CORP
Retired date Accept default date
Cost Retired 2,500,000.00
Retirement Type DESTROYED

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 Module 1: Asset Retirement and Reinstatement

8. Select (B) Done.

9. Close the Assets window to return to the Navigator.

Process Asset Retirements

10. Navigate to the Calculate Gains and Losses program submission form.

• (N) Depreciation > Calculate Gains and Losses

11. In the Parameters window, enter OPS CORP.

12. Select (B) OK then (B) Submit.

13. View your request to ensure it completes normally:

• (N) Other > Concurrent

14. Click (B) Find.

Reinstate the Retirement

15. Navigate to the Asset Workbench and find the asset on which you performed the partial
retirement above.

• (N) Assets > Asset Workbench (I) Find

16. When the asset is displayed, select (B) Retirements.

17. Query the retirement you processed by entering CTRL + F11 in the Retirements form.

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 Module 1: Asset Retirement and Reinstatement

18. Note the Gain/Loss field has data. Select (B) Reinstate.

19. Confirm the reinstatement then select (B) Cancel.

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