Construction-In-Process (CIP) Assets

A construction-in-process (CIP) asset is an asset you construct over a period of time. Create and maintain your CIP assets as you spend money for raw materials and labor to construct them. Since a CIP asset is not yet in use, it does not depreciate and is only in the corporate book. When you finish building the CIP asset, you can place it in service and begin depreciating it.

You can track CIP assets in Oracle Assets, or you can track detailed information about your CIP assets in Oracle Projects. If you use Oracle Projects to track CIP assets, you do not need to track them in Oracle Assets.

Use the Asset Key to Track CIP Projects
The asset key is a set of key identifying information, such as project name and project number, that you define for each CIP asset. Use the asset key to group and track your CIP assets with common key words so you can find them easily for inquiry or transactions.


CIP Capitalization Report
This report shows the CIP assets that you capitalized during a range of accounting periods. The report is sorted by balancing segment, CIP cost account, cost center, and asset cost account. It prints totals for asset cost account, cost center, CIP cost account, and balancing segment.
The Cost column on this report matches the Capitalizations column on the CIP Detail Report.
You must enter a Book and From/To Period range when you request this report.
Selected Headings
Date Placed in Service: The date you capitalized the CIP asset. Oracle Assets calculates depreciation using this date and the prorate convention.
Reverse Capitalization: An asterisk (*) denotes a reverse capitalized asset.