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Re: Can Odoo create asset on Stock IN, instead on Invoice Post?

Re: Can Odoo create asset on Stock IN, instead on Invoice Post?

Hi,

Ownership is in no way a legal issue for recognition of assets, plenty of businesses have assets on their balance sheet they do not own and conversely things that appear to be assets not on their balance sheet they do own.  

Ownership, legal or otherwise, is merely a piece of evidence to demonstrate control of an asset under IFRS. The test is control and expected (meaning probable) future economic benefits. Add to that you must be able to reliably value it and that is essentially the criteria under IFRS.  The trick is in the last part, you need to be able to reliably value it and big assets are rarely initially valued at the sticker price.

Leases and time limited quotas are a classic example of a depreciable asset without ownership. There are plenty of others. 

And the obvious counterpoint to legality, when you receipt stock in you create an inventory asset don't you? In fact you create even though there commonly is a specific clause in your suppliers credit terms stating that title does not pass until the goods are paid for. So not only do you not own it, someone else is asserting ownership yet they no longer recognise it as an asset, but you do.

On Thu, Feb 13, 2020 at 9:17 PM Ermin Trevisan <trevi@twanda.com> wrote:
Hi Kitti

IMHO this is a legal issue. According to my knowledge, activating (in the balance sheet) and deprecating an asset requires legal ownership. Receiving an asset only creates possession, but not necessarily ownership.

Best, trevi

On Wed, 2020-02-12 at 06:37 +0000, Kitti Upariphutthiphong wrote:
Hi community,

As we know, about Asset in Odoo. Normally, asset is created when Invoice is posted.

AFIK, other ERP system will create asset on Stock In. Which make more sense to me. What is your opinion about this?

Are there OCA modules that did that?

Thank you!

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by Graeme Gellatly - 04:00 - 16 Feb 2020

Reference

  • Can Odoo create asset on Stock IN, instead on Invoice Post?
    Hi community,

    As we know, about Asset in Odoo. Normally, asset is created when Invoice is posted.

    AFIK, other ERP system will create asset on Stock In. Which make more sense to me. What is your opinion about this?

    Are there OCA modules that did that?

    Thank you!
    by Kitti Upariphutthiphong - 07:36 - 12 Feb 2020