What's the difference between a project asset and an Oracle Assets asset?

The main difference between a project asset and an Oracle Assets asset is their scope and purpose.

Project assets are created within Oracle Projects and are used to manage asset details for project-related activities, such as asset allocation, asset line grouping, and so on. Oracle Assets assets represent actual assets in the real world, and are used to manage these assets, capitalize them over time, and depreciate them.

The main interconnection between Oracle Projects and Oracle Assets is the transfer of project costs from Projects as source asset lines within Assets. Once source asset lines are imported into specific assets, they add to the actual cost of the asset in Fixed Assets. These assets can then be managed and accounted in Oracle Assets, independent of Oracle Projects.