Asset Class

Definition

A system object used to group assets of similar kinds (such as buildings or machinery), primarily for the purposes of account determination.

In Turkey, the law prescribes the asset classes, and requires you to post some asset transactions to different accounts for different asset classes.

For generic information about the asset class, see Functions of the Asset Class .

Use

Customizing

Create the asset classes as shown in the table below, in Customizing for Financial Accounting (FI), by choosing Start of the navigation path Asset Accounting Next navigation step Organizational Structures Asset Classes Define Asset Classes. End of the navigation path

Define the asset number ranges as shown below, in Customizing for FI, by choosing Start of the navigation path Asset Accounting Next navigation step Organizational Structures Asset Classes Define Number Range Interval. End of the navigation path

Create a separate account determination key for each asset class, in Customizing FI, by choosing Start of the navigation path Asset Accounting Next navigation step Organizational Structures Asset Classes Specify Account Determination End of the navigation path . The account determination keys are supplied with the system, one for each asset class. They have the same names as the asset classes given below – for example, the asset class called Land has a key with the same name, the same is true for the Buildings asset class, and so on. If you decide to use different descriptions for the asset classes than the ones listed below, you may wish to change the key descriptions to match.

Asset Class	Description	Number Range	From	To
TR250	Land	00	250000	250999
TR251	Land improvements	01	251000	251999
TR252	Buildings	02	252000	252999
TR253	Machinery and equipment	03	253000	253999
TR254	Motor vehicles	04	254000	254999
TR255	Office equipment and furniture	05	255000	255999
TR256	Miscellaneous tangible assets	06	256000	256999
TR258	Assets under construction	07	258000	258999
TR260	Rights	10	260000	260999
TR261	Goodwill	11	261000	261999
TR262	Founding costs	12	262000	262999
TR263	Research and development costs	13	263000	263999
TR264	Special costs	14	264000	264999
TR265	Software	15	265000	265999
TR267	Miscellaneous intangible assets	17	267000	267999

Periodic Processing

You calculate depreciation on all assets except land (asset class TR250) and assets under construction (TR258) (for more information, see Depreciation ).

Some asset classes have to be adjusted for inflation (for more information, see Inflation Accounting for Asset Accounting ). You have to assign a revaluation key to these classes.