Finally am able to put the detailed accounting entries for the Asset Cycle. As highlighted in one of the post Oracle Assets creates journal entries  for the following general ledger accounts:
- Asset Cost
- Asset Clearing
- Depreciation Expense
- Accumulated Depreciation
- Revaluation Reserve
- Revaluation Amortization
- CIP Cost
- CIP Clearing
- Proceeds of Sale Gain, Loss, and Clearing
- Cost of Removal Gain, Loss, and Clearing
- Net Book Value Retired Gain and Loss
- Intercompany Payables
- Intercompany Receivables
- Deferred Accumulated Depreciation
- Deferred Depreciation Expense
- Depreciation Adjustment
The setup of these accounts is done while you defining the asset books as per below. The number for above accounts can usually map it with Oracle seeded screen of setup;.
Fig 1: Accounts and accounting in Fixed Assets
Fig 2: Accounts and accounting in Fixed Assets
Next we will see the different accounting at various transactional events.
Whenever you run depreciation, Oracle Assets creates accounting entry with your accumulated depreciation accounts and your depreciation expense accounts. Oracle Assets creates separate journal entries for current period depreciation expense and for adjustments to depreciation expense for prior period transactions and changes to financial information.
Oracle Assets creates the following journal entries for a current period depreciation charge of AU$ 200:
Current and Prior Period Addition
Read this previous post on mass addition :
The recoverable cost is AU$ 4,000 and the method is straight-line 4 years. You purchase and place the asset into service in Year 1, Quarter 1.
You place an asset in service in Year 1, Quarter 1, but you do not enter it into Oracle Assets until Year 2, Quarter 2. Your payables system creates the same journal entries to asset clearing and accounts payable liability as for a current period addition.
Merge Mass Additions
When you merge two mass additions, Oracle Assets adds the asset cost of the mass addition that you are merging to the asset account of the mass addition you are merging into. Oracle Assets records the merge when you perform the transaction. Oracle Assets does not change the asset clearing account journal entries it creates for each line, so each of the appropriate clearing accounts clears separately.
Construction-In-Process (CIP) Addition
You add a CIP asset. (CIP assets do not depreciate )
Once you decide that a CIP asset is completed you can capitalize it very easily.
Navigation: Assets > Capitalize CIP Assets
A capitalization transaction is similar to an addition transaction: you place the asset in service so you can begin depreciating it. When you capitalize an asset in the period you added it, Oracle Assets creates the following journal entries:
When you capitalize an asset in a period after the period you added it, Oracle Assets creates journal entries that transfer the cost from the CIP cost account to the asset cost account. The clearing account has already been cleared.
Deleted Mass Additions
Oracle Assets creates no journal entries for deleted mass additions and does not clear the asset clearing accounts credited by accounts payable. You clear the accounts by either reversing the invoice in your payables system, or creating manual journal entries in your general ledger.
Asset Type Adjustments
If you change the asset type from capitalized to CIP, Oracle Assets creates journal entries to debit the CIP cost account and credit the asset clearing account. Oracle Assets does not create capitalization or reverse capitalization journal entries for CIP reverse transactions.
Cost Adjustments to Assets
Understand this way, you placed an asset in service in Year 1, Quarter 1. The recoverable cost is AU$4,000. The life of your asset is 4 years, and you are using straight-line depreciation. In Year 1, Quarter 4, you receive an additional invoice for the asset and change the recoverable cost to AU$4,800.
Expense will go at it:
Current Period Reinstatement
Read these post for greatest
When you reclassify an asset from office equipment to computers in Year 1, Quarter 3. The asset cost is AU$4,000, the life is 4 years, and you are using straight-line depreciation
Read this earlier post on asset transfer .
In Year 2, Quarter 2, you transfer the asset from cost center 100 to cost center 200 in the current period
In Year 3, Quarter 4, you transfer the asset from the ABC Manufacturing Company to the XYZ Distribution Company.
you place the same AU$4,000 asset in service with two units assigned to cost center 100. In Year 2, Quarter 3, you realize the asset actually has four units, two of which belong to cost center 200. If all units remain in the original cost center, Oracle Assets does not create any journal entries.
- Fixed Asset & SLA 
- Fixed Assets:Journal Entries 
- Asset Transfer 
- Deep Drive : “Depreciation” in Oracle Fixed Asset