In Finland, tax book depreciation is calculated at the category level. This affects the tax depreciation calculation of assets sold during the year because Oracle Assets generates loss/gain amounts based on individual assets, not on the whole category. Because calculation on individual assets is illegal in Finland, Oracle Assets sets up each category with a new sales asset. It creates new sales assets for the categories at the end of each financial year.

The value of this sales asset in the corporate book is zero. The value of the sales asset in the tax book depends on if you copy the retirements from the corporate book to the tax book. If you copy retirements to the tax book, the value of the sales asset equals the total gain/loss retirement value in the corporate book. If you do not copy retirements, the value of the sales asset equals the sum of all proceeds received from the sale of retirements in the category.

You can choose to report assets by minor asset category either individually (Detail Report), or in a summary format (Summary Report). Both the detail and summary reports contain separate pages for each asset category. Both reports contain information for category and cost center. The reports are ordered by cost account and category. The detail report contains the financial information of every individual asset in the category. Report totals exist for category, cost account, and report levels.

Note the following:

Asset category selection is restricted to the minor category.

You can use different accounting calendars for the tax and corporate book.