Hey all, does anyone have any experience with thei...
# fixed-assets-mgmta
AMWhite
02/21/2023, 9:33 PMHey all, does anyone have any experience with their company being acquired and needing to reset all depreciation start dates to the date of acquisition, but not restarting depreciation at the asset's original cost/lifetime? Essentially we need to show all assets started depreciating on date xx/xx/xx at whatever value they were at that point in time with however many months they had left in the lifetime.
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Karina
02/21/2023, 9:47 PMsure, you bring assets over at NPV at X date as it would be a original value of an asset and move on with this (depreciation, etc)
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AMWhite
02/21/2023, 9:50 PM@Karina What do you do with the assets as they exist right now? How would you dispose of the the existing assets without a financial impact before you bring them in again at NPV?
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Karina
02/21/2023, 9:51 PMare you saying this is happening in the same system?
Karina
02/21/2023, 9:52 PMjust follow the purchase accounting journals, whatever it says you should be able replicate within subledger
Karina
02/21/2023, 9:53 PMyou would need to make decisions re: subledger, usually accounts used in journals tells you what account is written off by how much. use revaluation for that
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Phillip
02/21/2023, 11:34 PMwe did this recently and did a batch revaluation through a csv import of the depreciation history. then we set the current net book value on the fixed asset.
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AMWhite
02/22/2023, 4:27 PM@Karina Thanks for the input. And yes, this is happening in the same system.
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