What should my formulas be under Fixed Asset Ledger for both Asset Count and Depreciation Amount?
Check out the "Hints" at the bottom of page 44 and they will give you some guidance on what to put in those fields. For Depreciation, notice that it must be a numeric value and it's telling us that it is not LIM. Is there another numeric value in the table that can be mapped to Depreciation Amount via a =fieldname formula? It is true that in real life, if we had questions about what certain fields actually are, we would research it in the source system or with the data owner. In this case, we have our hints to help along. Let me know if you need more assistance.
Is it Value? Do my formulas look accurate now?
This is too easy! Should update it to use the Fixed Asset Age Range Table with an if statement. I was looking for what LIM means in Fixed asset accounting terminology! Are we Sure Depreciation does not require "Fixed Asset Age Range" Table?
Adding some info from out conversation earlier today Apurva so it is a part of the post if other are wondering what you were.
In this course, we give you the information for Depreciation Amount although it's not directly labelled as such so we give a hint on how to identify which information is the depreciation amount as we need this for our project.
In real life, Depreciation Amount is information that most Finance teams already have and when we are configuring a project, we would be able to talk to the data owners to know exactly where that information is in the data. We do not need to calculate it unless for some reason that data doesn't exist.
Jennifer Reyna's Blog had the same question. Glad I was able to find this.
Retrieving data ...