Oracle Fa Questionnaire

Questionnaire for Oracle Fixed Assets Q No.

Questions

Type

1 How do you maintain your Fixed Asset Accounting data? 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

22

Process

How do you audit your Fixed Asset Accounting data? Which operations/processes do you want to streamline for Fixed Asset Accounting? Which operations/processes do you want to eliminate for Fixed Asset Accounting? Are there any time-intensive Fixed Asset Accounting operations/processes that need to be How do you close an accounting period for Fixed Asset Accounting? Is the schedule to close an accounting period for Fixed Asset Accounting documented? How long does it take to close an accounting period for Fixed Asset Accounting? How long should it take to close an accounting period for Fixed Asset Accounting? Is closing an accounting period for Fixed Asset Accounting a hard close or a soft close? How are adjustments to closed periods for Fixed Asset Accounting handled? How do you open an accounting period for Fixed Asset Accounting? Is the schedule to open an accounting period for Fixed Asset Accounting documented? How long does it take to open an accounting period for Fixed Asset Accounting? Who performs the tasks associated with opening an accounting period for Fixed Asset Accounting? Who performs the tasks associated with closing an accounting period for Fixed Asset Accounting? Where in your accounting cycle do you run standard reports and statements for Fixed Asset Accounting? What business performance statistics do you monitor for Fixed Asset Accounting? What are your Fixed Asset Accounting reporting requirements with respect to functional vs. foreign currencies? What are your Fixed Asset Accounting reporting requirements with respect to summary or detail formats? Obtain report listing. What reports do you currently generate to meet your Fixed Asset Accounting reporting requirements? Provide examples of each. Include source (could be manual), user, frequency, or number of copies. Is there any Fixed Asset Accounting reporting requirement that your current set of reports does not meet?

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Feedback

Revisit Y/N

23 Are Fixed Asset Accounting reports standard across multiple Sets of Books, for example, subsidiaries? 24 Are Fixed Asset Accounting reports standard across multiple levels within a Set of Books, for example, divisions? 25 What account codes and/or descriptions are required on Fixed Asset Accounting reports?

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26 Do you provide a "key" of content/information somewhere on the Fixed Asset Accounting report? Setup 27 What Fixed Asset Accounting reports are grouped together on a regular basis and printed in one print run? 28 Who receives a copy of the Fixed Asset Accounting reports? 29 What is the criteria for determining who should receive a copy of any Fixed Asset Accounting report? 30 How do you update a Fixed Asset Accounting report’s distribution list? 31 Is the process to update a Fixed Asset Accounting report’s distribution list documented? 32 How long does it take to update a Fixed Asset Accounting report’s distribution list? 33 How long should it take to update a Fixed Asset Accounting report’s distribution list? 34 Who performs the tasks associated with updating a Fixed Asset Accounting report’s distribution list? 35 Is there any requirement for online (softcopy) distribution and/or remote location printing for Fixed Asset Accounting reports? 36 Do some of these Fixed Asset Accounting reports belong in report sets? Always being run together? 37 Do the separate business units run their own Fixed Asset Accounting reports? 38 What type of printers do you run Fixed Asset Accounting reports (including checks, purchase orders, and so on) on? Where are they located? 39 Do you run Fixed Asset Accounting reports for different companies or cost centers? 40 Do you have security requirements on who can enter data for Fixed Asset Accounting? (for example, by company? by cost center?) 41 Do you have security reports on who can run Fixed Asset Accounting reports? (by company, by cost center, and so on) 42 Will there need to be terminal security for Fixed Asset Accounting? 43 Do you run security reports on a regular basis for Fixed Asset Accounting? 44 Do you have documentation on your current system security requirements for Fixed Asset Accounting?

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45 Map each GL user to a menu structure. Will any new ones need to be created for Fixed Asset Accounting? 46 Do you review requirements for validation rules, allowing certain Fixed Asset Accounting accounts to be valid with only certain other values. 47 Do you have any category aliases? 48 Do you have any location aliases? 49 Do you have any accounting aliases (if not done in GL)? 50 How do you categorize your fixed assets now? 51 Are your asset categories unique for each combination of asset cost account in your general ledger, depreciation method, useful life and prorate convention? 52 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? 53 Do you group fixed assets which use different asset accounts for reporting purposes? 54 Do you have a special name (alias) for each category? 55 Data Conversion (note: refer to sizing questions previously asked) 56 How is your corporate and tax information stored now? 57 Do you have your vendor information in electronic form? 58 Do you have your employee information in electronic form? 59 Do you have your location information in electronic form? 60 What systems are you using to store asset, vendor, employee and location information now?

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61 62 63 64 65 66 67 68 69 70 71

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72 73 74 75 76

What is the current accuracy of your asset information? What are your prorate conventions? Do you have any depreciation ceilings? For luxury items? What are your Investment Tax Credit rates, recapture rates and ceiling rates? Identify price indexes. What are your depreciation methods? What are your useful lives? How do you account for prior period additions, retirements or other transactions in your general Do you use ITC for any fixed assets still in service? Do you depreciate leased items, or leasehold improvements? Does any department or departments receive the depreciation expense for assets used by another department? If so, do these expenses eventually get redistributed to asset users? Explain how your cost centers or departments are organized? How many fixed assets does your company own? How are they numbered? Do you need to track fixed assets that are not depreciated? Do you track different information for different types of fixed assets? What basic information about each asset do you store?

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77 78 79 80 81 82 83 84

Are your fixed assets located in several countries? How do you number your fixed assets? Do you have physical tags on your fixed assets? Do you track leased assets using Oracle Assets? What is your oldest date placed in service for your fixed assets? Do you have standard depreciation for your fixed assets? Do you associate your fixed assets with vendors? Do you use multiple currencies when purchasing, depreciating, reporting or posting financial information about you fixed assets? 85 What system do you use presently to do your fixed asset accounting? 86 What systems do you use to track and inventory your fixed assets? 87 Does your current system track asset possession by employee, department, or cost center? 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109

What property types do you use (Personal 1245, Real 1250, and so on) What are your monthly reporting requirements? Where are your fixed assets located? How do you report property values for tax purposes? Do you have special names for each location (aliases)? Do you assign fixed assets to employees? Do you have security requirements on who can enter data? Who can enter data in different companies/cost centers? Do you have documentation on your current system security requirements? Do they run security reports on a regular basis? What security measures do you require for your asset information? How many different companies in your organization own fixed assets? In what countries are your fixed assets located? Who tracks financial and tax information in each country? Explain the accounting structure and reporting methods used to consolidate your asset cost and depreciation expenses? Do you post your asset financial information in summary or detail to your general ledger? How many corporate depreciation books do you maintain? If more than one, why? How many different tax depreciation books do you maintain in each of your companies? How are they used? Do you adjust depreciation in your tax books? Do you maintain any other types of depreciation or asset valuation books? What are your capital budgeting requirements? How often do you calculate depreciation for corporate accounting, tax, and capital budgeting purposes?

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110 Transactions (note: refer to sizing questions previously asked) 111 How many fixed assets do you purchase each accounting period? 112 How often do you transfer large numbers of fixed assets from one person, cost center, or location to another? 113 How often, and for what reasons, do you change fixed asset depreciation method or life for a single asset? 114 How often do you change the useful life, depreciation method, or prorate convention of all fixed assets in a category? 115 How many retirements do you do per period? 116 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? 117 Do you want your fixed assets automatically added from your feeder Accounts Payable system? 118 119 120 121

What Accounts Payable system do you use? Do you ever retire fixed assets in the same period they were purchased? How often do you perform physical inventories of your fixed assets? Do you cycle count your assets?

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