Oracle Assets is one of the modules in the EBS Financials Suite. This module is used to record the asset information manually and to import the asset information from the payables / Projects module etc using Mass Additions.
The basic Functions of Oracle Assets are:
1. Recording of Asset manually or through mass additions
2. Updating the changes if any using Mass transactions
3. Running the Depreciation Program as per the depreciation calendar
4. Generating the Accounting Entries
5. Transferring the data to GL
While implementing fixed assets, there are many setup steps that needs to be followed. Below flow chart will help you to understand the setup flow involved in fixed asset implementation
Each of the above setups need to be configured depending on the business and reporting requirements and most of them are one time setups. So to get more information on these setups, please refer Oracle Assets user guide.