Special cash deposits for payment of interest, dividends or other special purposes shall be included in this account in separate subdivisions which shall specify the purpose for which each such special deposit is made. Amounts charged to account 413, Expenses of Electric Plant Leased to Others, for the current amortization of limited-term or other investments subject to amortization included in account 104, Electric Plant Leased to Others.

Use the Calendars window to set up as many depreciation and prorate calendars as you need. Calendars break down your fiscal year into accounting periods.

Year End Balance Rule

An exception to the subaccount length is the number for cash and banks . Having five digits allow a ministry to have 99 bank accounts and cash accounts . Even though these are global accounts, each ministry will see their own transactions.

This account may be restricted to the amount considered by the proprietor to be the permanent investment in the business, subject to change only by additional investment by the proprietor or the withdrawal of portions thereof not representing net income. When this option is taken, the retained earnings accounts shall be maintained and entries thereto shall be made in accordance with the texts thereof.

Exporting Lease Payments To Oracle Payables

The purpose of this instruction is to insure that accounts or records are currently maintained by each licensee from which reports may be made to the Commission for use in determining the net investment in each licensed project. The instruction covers only the debit and credit items appearing in the licensee’s accounts which may be identified with and assigned directly to any licensed project. In the determination of the net investment as defined in section 3 of the Federal Power Act, allocations of items affecting the net investment may be required where direct assignment is not practicable. Umoja provides standard reports which will enable the user to display the asset master data specifications, extract/display data/information about the asset detail transactions for the given period of time and balances at specific date and movements for a given period.

• Developing and reporting on transmission expansion plans for assessment and compliance with reliability standards.
• Cleaning electric plant equipment when not incidental to maintenance work.
• Resetting time controls, checking operation of demand meters and other metering equipment, when done as an independent operation.
• This account shall be credited with amounts charged to Account 5302, Uncollectible Revenue – Other to provide for uncollectible amounts included in Account 1190, Other Accounts Receivable.

Land is recognized at its historical cost or purchase price, and can include any other related initial costs spent to put the land into use. Time of installation means the date at which telecommunications plant is placed in service. An intrasystem does not include property, plant or equipment which are not solely dedicated to its operation. Intangible property means assets that have no physical existence but instead have value because of the rights which ownership confers. When not otherwise indicated in the context, means the accounting entity.

Setting Up Security By Book

For each step, we include a Context section that indicates whether you need to repeat the step for each set of tasks, ledger, inventory organization, HR organization, or other operating unit under Multiple Organizations. The following flowchart outline contains the required and optional setup steps for Oracle Assets. Required steps with Defaults refer to setup functionality that is pre-seeded and contains default values in the database.

A. These accounts shall include the cost of labor, materials used and expenses incurred in the operation of transmission lines. This account shall include the cost of labor, materials used and expenses incurred which are not specifically provided for or are not readily assignable to other nuclear generation operation accounts.

The Impact Of Fully Depreciated Assets On Reported Profits

This account shall also include such costs as fuel, licenses and inspection fees, washing, repainting and minor accessories. The costs of using garage work equipment to maintain motor vehicles shall be charged to Account 6112, Motor vehicles expense. This account shall not be charged with the costs of operators of special purpose vehicles and other work equipment. The costs of operators of this equipment shall be charged to accounts appropriate for the activities performed. “Indirect construction costs” shall include indirect costs such as general engineering, supervision and support.

• This account shall not include any amounts representing the undistributed earnings of subsidiary companies.
• Removing, relocating, or reconstructing, property of others, such as buildings, highways, railroads, bridges, cemeteries, churches, telephone and power lines, etc., in order to acquire quiet possession.
• This account shall include costs of fuel, lubrications, license and inspection fees, washing, repainting, and minor accessories.
• You can also run reports that compare budgeted and actual spending or show asset additions to categories for which you did not enter budget amounts.
• The fields on the Origintab do not need to be filled out at this time, some are automatically populated later on during acquisition, transfer etc. processes.

For example, you may want to set up the security profiles for the ABC Corporation. Since there is a one to one correspondence between an organization and a security profile, a logical naming standard for the security profile value would include the organization name and the organization identification number.

Cost Of Improvements

If you previously defined your suppliers while setting up a different Oracle Applications product, proceed to the next step. Default – If you skip this step, you will not be able to track asset assignments against employees and assignments. If you previously defined your supplier and employee numbering schemes while setting contra asset account up a different Oracle Applications product, proceed to the next step. If you previously defined your journal entry categories while setting up Oracle General Ledger, proceed to the next step. If you previously defined your journal entry sources while setting up Oracle General Ledger, proceed to the next step.

The portion of the cost measured by the fair market value of the land not to be used shall be included in account 105, Electric Plant Held for Future Use, or account 121, Nonutility Property, as appropriate. The resulting amounts recorded in these accounts shall be disposed of as prescribed in this system of accounts or as otherwise authorized by the Commission.

The Independent Value Set on which Minor Computer depends is Major, and the Dependent Default Value is COMPUTER. The valid values for the minor category segment are dependent on the value of the major category segment. Then use the Key Flexfield Segments window to enable your segments.

The expense accounts offset one another but a source of funding is charged. Since accounting standards state that an asset should be carried at the net book value, equipment is listed on the balance sheet at its historical cost amount. The cost is then reduced by accumulated depreciation to arrive at a net carrying value or net book value. A company is free to decide what depreciation method to use on the equipment. Also included are the costs of direct supervision (immediate of first-level) and office support of this work.

The catch-up expense will be taken in the current period of change. If you are setting up the descriptive flexfield on forms where you add assets to reference the asset category, you may want to enter all values in uppercase. Then, when you enter the concatenated category flexfield segments value for which the descriptive flexfield structure applies, you can just enter the segment values in all uppercase separated by your segment separator.

Inventories of large private branch exchanges equipment are included in Account 1220, Inventories. Items of station apparatus in stock for which no further use in the ordinary conduct of the business is contemplated, but which as a precautionary measure are held for possible future contingencies instead of being discarded shall be excluded from this account and included in Account 1220, Inventories. When land, together with buildings thereon, is acquired, the original cost shall be fairly apportioned between the land and the buildings and accounted for accordingly.

For Swiss Assets with a calculation method of Current Market Value, the Current Value will calculate the insurance value following the Value as New calculation method and adjust this value using the fraction Asset Remaining Life / Asset Total Life. Also note that the calculated Current Value for Swiss Assets can be manually updated. For Market Value, the value displayed is the indexed net book value of the asset . This value will also be updated to account for transactions, such as adjustments or retirements, that affect the asset value. For Value as New, the value displayed is the indexed base insurance value. This field displays the current insurance value of the asset, calculated automatically, unless you chose the Manual Value calculation method or your asset is flagged as a Swiss special-case asset. For assets purchased second-hand, enter the original construction cost of the asset.

Operating Leases

Depreciation will fail if the current fiscal year is the last fiscal year. You can use the list of values to choose these combinations for your assets when you enter them. If your location flexfield has dynamic insertion turned off, this is the only place you can define valid combinations. If dynamic insertion is turned on, Oracle Assets automatically updates the Locations window with the values you enter in the Assignments window.

A. This account shall be credited with amounts charged to Account 449.1, Provisions for Rate Refunds, to provide for estimated refunds where the utility is collecting amounts in rates subject to refund. B. When liability for any injury or damage is admitted by the utility either voluntarily or because of the decision of a court or other lawful authority, such as a workmen’s compensation board, the admitted liability shall be charged to this account and credited to the appropriate current liability account.

• A separate account, with appropriate title, shall be kept for each fund.
• If you enter a group asset number in this field, all capitalized and CIP assets using this category will be automatically assigned to the group asset entered.
• It shall not transfer the balance in this account or any portion thereof to retained earnings or make any use thereof except as provided in the text of this account without prior approval of the Commission.
• Ensure the sales amount you are using is net of UNDP fees where applicable.
• This will post the accounting entries in the financial accounting ledger as follows .
• Income taxes relating to gains recorded in this account shall be recorded in account 409.1, Income Taxes, Utility Operating Income.

You can update the Insurance Company and Supplier Site for this policy. You can also update the Calculation Method, as long as the automatic calculation routine has not yet been run for any assets covered by this policy. Use the Fixed Asset Insurance Policy Maintenance window to update the information for an insurance policy that covers more than one asset.

An example is write-back of accumulated depreciation due to a revaluation of remaining useful life which affects prior fiscal years. In this case the contra account for the posting to accumulated depreciation is the current year depreciation expense . This section details the procedure for the manual acquisition of an asset – for assets acquired in prior fiscal years. These assets will be recognized at net book value for the first time in the current fiscal year (i.e. the capitalized cost of the asset and accumulated depreciation for prior fiscal years is recognized in the current fiscal year). The Asset Accounting Senior User identifies that the construction project has costs to be capitalized at the end of the month. Initially, sub-assets need to be created for each distinct fund that is charged to a WBS Element.