Oracle Financials Cloud: Fixed Assets Fundamentals
Duration : 2 Days (16 Hours)
Oracle Financials Cloud: Fixed Assets Fundamentals Course Overview:
The Oracle Financials Cloud: Fixed Assets Fundamentals course offers an overview of setting up and managing fixed assets in Oracle Financials Cloud. Participants will learn how to track, report, and ensure accurate information related to fixed assets. The course covers creating and managing asset categories, recording asset details, and generating depreciation calculations and reports. It also explores various asset types, accounting rules, extensive asset life cycles, cost accounting, capitalization considerations, asset retirement, disposal rules, and asset administration and maintenance. By completing this course, participants will gain foundational knowledge of the Oracle Financials Cloud: Fixed Assets Module and be equipped to facilitate accurate and compliant asset tracking in their organizations.
- Finance and accounting professionals
- Asset managers
- Financial analysts
- Individuals seeking fixed asset setup knowledge
- Participants handling asset additions, retirement, transfers, and depreciation
- Professionals producing automated accounting and reporting
- Individuals aiming for reliable and accurate fixed asset records and reports.
Learning Objectives of Oracle Financials Cloud: Fixed Assets Fundamentals:
1. Identify the main components of Oracle Fusion Fixed Assets and their functionality.
2. Describe how to install and configure Oracle Fusion Fixed Assets and Fixed Asset Categories, Books, and Rules.
3. Demonstrate how to setup Asset Key Flexfields for a specific Business Unit and understand the impact of those Flexfields on Financial Accounting.
4. Create and manage Assets in the Fixed Asset Work Area.
5. Describe how to setup Depreciation, Retirement and Realities rules.
6. Demonstrate the necessary entries and related accounting impacts when an asset is acquired, utilized, retired, or sold.
7. Identify how Assets are integrated with Procurement, Projects, Inventory and Advanced Global Intercompany System (AGIS).
8. Identify the different Reporting options available in Fixed Assets.
9. Integrate functionality, when required, with Cash Management, Subledger Accounting , Tax and Global Intercompany Systems (GIS).
10. Effectively use the available APIs and Customizations in the Fixed Assets Module.
- Fusion Assets Overview
- Fusion Asset Configuration Overview
- Managing Asset Key Flex Fields
- System Controls
- Managing Fiscal Years and Calendars
- Managing Asset Books
- Managing Asset Categories
- Manual Asset Additions
- Mass Asset Additions
- CIP Asset Additions
- Types of Asset Adjustments
- Amortize Asset Adjustments
- Depreciation Rules
- Depreciation Methods
- Managing Depreciation
- Asset Retirements
- Asset Reinstatements
Asset Accounting and Reporting
- Asset accounting process
- Sub Ledger Accounting for Assets
- Asset Reports
- Tax Book Concept
- Setting up a Tax Book
- Managing Tax Books
Oracle Financials Cloud: Fixed Assets Fundamentals Course Prerequisites:
1. Knowledge of fundamental financial and accounting principles.
2. Knowledge of basic concepts of fixed asset accounting.
3. Experience with cloud technology will be beneficial.
4. Working knowledge of Microsoft Office products such as Excel.
5. Familiarity with Oracle E-Business Suite, including Oracle Financials and other related applications.
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This course comes with following benefits:
- Practice Labs.
- Get Trained by Certified Trainers.
- Access to the recordings of your class sessions for 90 days.
- Digital courseware
- Experience 24*7 learner support.
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