Answer / nazeer ahammed

Asset class:classfying fixed assets in arganisation as per
particular country legal requirements.
ex: land,buildings,plant,machinery,furniture and
fixtures,vehicles,capital workin progress etc.,

for example take building as one asset class:
house hold building
commersial building
factory building
agriculture building
etc.,

Depreciation Areas:

Depreciation areas are used to calculate depreciation for
different reporting purposes.
ex:
Book depreciation(as per company Act 1956)
special Tax depreciation(as per income tax act 1961)
group depreciation
cost depreciation
management depreciaion
etc.,

Answer / pravin chalke

Asset class is the main criterion for classifying fixed
asset according to requirements of management and leagal
requirements of particular country.Each asset master is
assigned to Asset class.there are special asset classes e.g
AuC(asset under construction,low value asset,leassed
asset,financial asset technical asset.
an essencial function of the asset class is to establish a
link between the asset master recordand the accounts to
which the related values and depreciation are posted in the
general ledger

Answer / venkat

Asset classes are the most important means of structuring
fixed assets. You can define an unlimited number of asset
classes in the system. You use the asset classes to
structure your assets according to the requirements of your
enterprise. Asset classes apply in all company codes. The
asset class catalog, therefore, is relevant in all company
codes in a client. The preceding is also true when the
company codes have different charts of depreciation and
therefore different depreciation areas.

Answer / pallavi

Asset class means number of similar nature asset are maintain under one group or block call Asset class
Example-Land and Building (asset class)
Building 1
Building 2
building 3

Answer / manovijay

Asset class is group of slimier kind of group of assets
the asset class is control asset screen layout rule
it is used to account determination.

Depreciation Areas:s

Depreciation areas are used to calculate depreciation for
different reporting purposes.
ex:
Book depreciation(as per company Act 1956)
special Tax depreciation(as per income tax act 1961)
group depreciation
cost depreciation
management depreciaion
etc.,

Answer / seetaram

Asset class:

Asset class:classfying fixed assets in arganisation as per
particular country legal requirements,depending on nature of asset

Depreciation Area:
dep area which shows the valuation of fixed asset for particular purpose.

Answer / venkat

dep area defines valuation of asset

Answer / mouly

asset classes are most important,means of structuring fixed asset.classifying fixed assets in organisation as per country legal requirments. ex: land, building. furniture, vechicles etc....
without assest class we can't create asset master data

Answer / yoginder singh

Asset classes is a criteria for structuring fixed asset from
an accounting point of view.
Asset classes is a classification parameter used to
categorize asset into such categorize as building, machinery
vehicles and furniture.
The depreciation area is donated by a 2-character code in
the system. The depreciation area contain the depreciation
terms which are required to be entered into asset master
records.
The other depreciation areas include.
1. Special tax depreciation.
2. Tax balance sheet depreciation.
3. Company act 1956 and etc.

Answer / rsrihari968@gmail.com

dep. area consist method of dep., type of dep., multilevel method & Periodic controls.

Example:method of dep=% of dep or Useful life
Type of Dep: ordinary or special dep.
Multilevel method: SLM or WDV

Periodic Control Method: if asset acq. or use
morethan 180 Days then full
dep. otherwise half dep. cal.

What is payment advice? : fi- accounts receivable

0 Answers  

Define the term "posting period varient"?

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what is as-is and to-be document and how prepared the to-be document

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What precautions should you take while defining a shortened fiscal year?

0 Answers  

Explain about asset master?

0 Answers  

what is a a/c type?what r they?where we use it?where can we find it after that?

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In accounts receivable, what’s the difference between the ‘residual payment’ and ‘part payment’ methods of allocating cash?

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what is the difference between Field Status Varient and Field Status Group. Please explain in Brief.

7 Answers   IBM,

1. I want to create an installment method payment term whereby my customer pays 50% as Advance Payment & 50% Net 45 days. How to configure the 50% advance payment term in OBB8 as system does not take negative days say -1 . I have created Z100 as 50% Advance Payment & 50% Net 45 days, Z101 as 50% Adv Pyt and Z102 as 50% Net 45 days in OBB8 and then assigned the same in OBB9 to Z100, 1, 50%, Z101 and Z100, 2, 50%, Z102. But the payment terms Z101 should be having -1 days instead of 0 days. How to configure this or achieve the payment term of advance payment? 2. My purpose is that during FB70, I should get a warning message that advance payment has not yet been received for this customer having this installment payment term Z100. It should not let me post the invoice unless 50% adv pyt has been received. At present we are not using Down Payment functionality. But I assume that without the Down Payment functionality the same cannot be achieved. Please confirm this. How can I achieve the above requirements? 3.Dear Group - Our Purchasing Dept has asked me to create a new payment term with the following terms: "Payable 90% upon delivery, 60 days net, 10% upon acceptance, 60 days net". So when we receive the invoice, we get a 10% discount off the total price, due within 60 days. The balance is due 60 days after that. Any ideas on how I would configure this using transaction OBB8. IT IS VERY URGENT FOR ME KINDLY SEND ME THE ANSWER ON MY E.ID-sahu.suryakanta@hotmail.com.

0 Answers  

Hi all.... Please explain to me... what G/L account should I maintain / create If I want to do the intercompany transfer asset - no revenue. and if I want to do the intercompany transfer asset - Net Book Value. What is the different between this 2 method. My company's requirement is ... 1. Transfering the asset on company A to company B, example Asset 1 - acquisition date : 01.06.2007 , acquisition amount : 1000, accumulated depreciation till 31.12.2007 : 10 so the net book value is 90, useful life 4 years the company wants to transfer this asset in company B. is it possible to transfer all the data just like I explain above : acquisition date : 01.06.2007 , acquisition amount : 1000, accumulated dep = 10

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