A Site Level Profile Option (JEDE ASSETS: Low Value Category Limit) is available for setting a default Low Value Category Limit. This limit can be changed when running the report.

Low Value Items are assets that have an average unit cost that is equal to or lower than the value shown in the Low Value Category Limit in the report parameters, and are fully depreciated in the year they are shown as an Addition in the report, with a Net Book Value of zero at the end of the year. Low Value Items are always printed in the year of Addition and are shown as Retired (a fictitious retirement). The current cost of the asset is printed in the Additions and the Retirements columns and the depreciation is printed in the Depr. Current column.

Note: Average unit cost is calculated for assets with a quantity greater than one by dividing the total cost of the units by the number of units.

In subsequent years, the Low Value Item asset will not be printed. Nor will it be printed in the year it is officially retired.

An asset that meets the Low Value Category Limit criterion, but has a non-zero Net Book Value at the end of the year it was shown as an Addition in the report, is not reported as a Low Value Item. It is treated like any other normal asset in the report.

Oracle Assets allows an asset with a prior year Date in Service to be entered in the current year. Depreciation commences in the current year. The Asset Summary report shows such assets as Additions in the prior year and in the Original Cost column, with the depreciation and NBV amounts in the current year. An asset that is entered with such a prior year Date In Service will never be fully depreciated in the year it is shown as an Addition on the report. Consequently, it will not be treated as a Low Value Item; rather, it will be treated like any other normal asset in the report.