S Num	Category	Query
1	Asset Categories	Are fixed assets, which use the same asset account in your general ledger, ever split into more than one group for accounting or tax depreciation purposes?
2	Asset Categories	Do you have any category aliases?
3	Asset Categories	How many Asset cost accounts do you have? (it’s a general ledger account to which you charge the cost of an asset when you purchase it. All assets in an asset category share the same asset cost account in Oracle)
4	Asset Categories	Please provide a list of asset categories and sub-categories used in current system (Oracle assets defaults depreciation rules based on the category, book and date placed in service).
5	Asset Categories	What are the different ways in which assets are grouped in the current system?
6	Asset Location	Are assets re-classified and transferred between locations?
7	Asset Location	Are your fixed assets located in several countries?
8	Asset Location	Do you have any location aliases?
9	Asset Location	List all asset locations in current system
10	Books	Are there any reconciliation issues with GL? It is important to ensure that the asset register matches the GL to the dot, before data migration is commenced
11	Books	Are there any time-intensive Fixed Asset Accounting operations/processes that need to be addressed?
12	Books	Do you have physical tags on your fixed assets?
13	Books	Do you have security requirements on who can enter data?
14	Books	Do you post your asset financial information in summary or detail to your general ledger?
15	Books	How do you number your fixed assets?
16	Books	Please provide details of accounts involved in Fixed asset accounting
17	Books	Provide details of your depreciation calendar
18	Books	Should any Fixed Asset policies or procedures be changed, streamlined or eliminated? If yes then which ones
19	Books	What are your capital budgeting requirements?
20	Books	What basic information about each asset do you store?
21	Books	What is the Fiscal Year used for the fixed assets module?
22	Books	What is the total number of corporate books in your system?
23	Books	What is your oldest date placed in service for your fixed assets?
24	Books	What system do you use presently to do your fixed asset accounting?
25	CIP Assets	How are CIP assets handled in your current system?
26	Depreciation	Any threshold cost of asset related depreciation policy? For instance only assets above a certain value need to be capitalized and depreciated.
27	Depreciation	Are there fixed assets that are not depreciated?
28	Depreciation	Do you depreciate leased assets?
29	Depreciation	Do you need to track fixed assets that are not depreciated?
30	Depreciation	How do you account for prior period additions, retirements or other transactions in your general ledger?
31	Depreciation	In case of adjustment to remaining useful life of asset, how is the impact on depreciation accounted - Do you amortize adjustments made in the prior period over the remaining useful life of the asset or do you expense the catch- up depreciation in the current period?
32	Depreciation	Is depreciation run on a monthly basis?
33	Depreciation	Is projected depreciation shown by current legacy system?
34	Depreciation	List of depreciation methods (life based or flat rate etc) required
35	Depreciation	What are your useful lives?
36	Depreciation	What is the depreciation policy in case of assets acquired during the year? It could be pro-rate depreciation, no depreciation in the year of acquisition or full year depreciation.
37	Existing Asset Addition and Maintenance Process	Are assets created based on Payables invoices?
38	Existing Asset Addition and Maintenance Process	Are assets tracked to the Cost Centers?
39	Existing Asset Addition and Maintenance Process	Are fixed assets sequentially numbered?
40	Existing Asset Addition and Maintenance Process	Do you have any leased assets?
41	Existing Asset Addition and Maintenance Process	How is standard Information tracked for every asset in the present system? Do we record any additional information for any specific group of assets?
42	Existing Asset Addition and Maintenance Process	How many assets are transferred per year?
43	Existing Asset Addition and Maintenance Process	How many fixed assets do you purchase each accounting period?
44	Existing Asset Addition and Maintenance Process	How often, and for what reasons, do you change fixed asset depreciation method or life for a single asset / Asset Category?
45	Existing Asset Addition and Maintenance Process	Is a physical inventory of fixed assets taken at regular intervals?
46	Existing Asset Addition and Maintenance Process	Is there any sharing of assets amongst departments and/or employees?
47	Existing Asset Addition and Maintenance Process	Please provide a brief overview of the process of Asset Re-Classification in the current system?
48	Existing Asset Addition and Maintenance Process	Please provide the Asset Assignment details (whether assigned to employees)
49	Existing Asset Addition and Maintenance Process	Who manages the existing fixed assets system? What is the number of users in the core FA team?
50	Existing Asset Retirement Process	Are fully reserved assets also retired?
51	Existing Asset Retirement Process	Do we have any process of Scrap Sales?
52	Existing Asset Retirement Process	Do we perform partial retirement in the current system?
53	Existing Asset Retirement Process	Do you ever retire fixed assets in the same period they were purchased?
54	Existing Asset Retirement Process	How many assets are retired per year?
55	Existing Asset Retirement Process	How many retirements do you do per period?
56	Existing Asset Retirement Process	Please provide process and document flow for Asset retirement
57	Existing Asset Retirement Process	When are assets retired?
58	Month Closing Process	Do you have any documentation details the steps followed in closing FA Book in the current system?
59	Month Closing Process	How are adjustments to closed periods for Fixed Asset Accounting handled?
60	Month Closing Process	Please provide a brief overview of FA-GL Reconciliation done before month close
61	Month Closing Process	What are the Key Reports generated from the current system during the period close? Kindly share the report outputs.
62	Month Closing Process	Who is responsible for Closing the FA Period in the current system?
63	Revaluation of Assets	Are assets revalued? If yes, then is it done individually or as a group? Please provide process of revaluation.
64	Revaluation of Assets	What are the methods of Revaluation? And what are the Accounting details i.e. journal entries?
65	Tax Reporting	Please provide a list of tax books maintained in current system
66	Tax Reporting	Please provide requirements of tax reporting of assets.
67	Tax Reporting	Where is your tax books maintained – in the same system – or outside the system?

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