A price index lets you calculate gains and losses for retirements using current value rather than historical cost. If you do business in a country that requires you to base gains and losses on current value rather than historical cost, Oracle Assets lets you set up price indexes to calculate the gains and losses for your asset upon retirement. When you retire an asset assigned to a category and book for which you have defined a price index, you can run the Revalued Asset Retirements Report which uses the revalued asset cost in calculating gains and losses.
You can use a different index for each asset category or the same index for all categories. You associate an index with an asset category by entering the name of the price index in the Price Index field on the Asset Categories window. See: Defining Price Indexes.
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