JD Edwards Enterpriseone Fixed Assets Accounting Part-2

Last updated 10/2022
MP4 | Video: h264, 1280×720 | Audio: AAC, 44.1 KHz
Language: English | Size: 1001.53 MB | Duration: 1h 57m
Full-length course (Part-2 of 3) on JD Edwards EnterpriseOne Fixed Assets Accounting

What you’ll learn
Topics run across all 3 parts and are as follows
Set up the JD Edwards EnterpriseOne Fixed Assets system.
Create asset master records.
Process general ledger entries to fixed assets.
Depreciate assets.
Process fixed asset journal entries.
Revalue assets.
Print fixed asset reports
Perform year-end processes and global updates.
Requirements
JD Edwards EnterpriseOne – Foundation (Functional)[Recommended}Completion of earlier part(s) of trainingDomain experience in Accounting and/or Finance-related functions (Preferred)[b]Description[/b]
What is Fixed Asset?Fixed assets, also known as long-lived assets or property, plant and equipment (PP&E), are a term used in accounting for assets and property that cannot easily be converted into cash. Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are referred to as fixed.While IAS 16 (International Accounting Standard) does not define the term "Fixed Asset", it is often colloquially considered a synonym for property, plant and equipment. According to IAS 16.6, property, plant and equipment are tangible items that:(a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes and(b) are expected to be used during more than one period."Fixed assets are one of two types:"Freehold Assets" – assets which are purchased with legal right of ownership and used, and"Leasehold Assets" – assets used by owner without legal right for a particular period of time.A fixed asset can also be defined as an asset not directly sold to a firm’s consumers or end-users.JD Edwards EnterpriseOne Fixed Asset Accounting OverviewJD Edwards EnterpriseOne Fixed Assets provides an effective way to track assets for your critical financial and reporting needs, enabling you to produce fixed asset reports, maintain purchase requests for assets, reconcile assets, and maintain tax information. With the JD Edwards EnterpriseOne Fixed Assets system from Oracle, you can control the fixed asset accounting lifecycle, from acquisition and depreciation to revaluation and eventual disposal. For example, you can:Add, depreciate, split, revalue, and dispose of fixed assets.Ensure compliance with tax and accounting requirements.Configure and maintain an unlimited number of depreciation methods.Use predefined or custom depreciation methods.Use the most advantageous depreciation method for each asset.Value assets by using an unlimited number of currencies.Maintain insurance and tax information by asset.Automate asset definition and configuration.Update asset information daily, monthly, quarterly, or annually.
Overview
Section 1: Introduction
Lecture 1 Introduction
Section 2: Managing Fixed Assets Accounting Data
Lecture 2 Processing General Ledger Entries for Fixed Assets
Lecture 3 Posting Journal Entries to Fixed Assets
Section 3: Units of Production for an Asset
Lecture 4 Describing Units of Production
Section 4: Asset Depreciation
Lecture 5 Calculating Asset Depreciation
Section 5: Journal Entries for Fixed Assets
Lecture 6 Describing Fixed Asset Journal Entries
Section 6: Asset Transactions
Lecture 7 Splitting Assets
Lecture 8 Transferring Assets to New Locations
Lecture 9 Disposing of Fixed Assets
ERP Consultants,Accounting Professionals,Finance Professionals,Asset Managers,Financial Auditors,Tax Consultants,Chartered Accountants,Cost Accountants,Property Managers,JD Edwards Functional Consultants,ERP Software Implementers,ERP Software Integrators

Homepage

https://www.udemy.com/course/jde-fixed-assets-accounting-part-2/