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Fiscal calendar changes impact on Fixed Asset calendar

Hi All

We have a scenario where the Fiscal calendar is required to be change from 01 April-31 March to 01 July-30 June. I am familiar with implementing this change but the question or uncertainty that we have is around the impact of the fiscal calendar change on the fixed assets.

Below is the setup of the fixed assets calendar components:

Initially our Fixed assets Depreciation profile was setup with Depreciation year set to Calendar. The Period frequency set to Monthly
The calendar selected on the Value Model and Depreciation book is the old fiscal calendar (01 April - 31 March). When I try to update the calendar on the Value Model it says that it cannot change the calendar due to existing transactions or journals.
Depreciation has already been run for several years with this setup and with the old Fiscal calendar (01 April - 31 March).

I have implemented this change in a Test environment where I updated the GL calendar with the New fiscal calendar but did not update the FA calendar. I also ran a few depreciations proposals and posted them and also ran reports ( comparing GL to FA sub ledger) and could not notice anything different from when the old calendar was setup to when the New calendar was implemented and changed. Depreciation is also calculating correctly.

Q1. I am not sure if I am testing this the correct way?

Q2. If I update the Fiscal year in the GL but leave the Assets linked to the old Fiscal year what will be the impact?

Q3. Looking at the initial setup of the Depreciation profile, my assumption is that because we selected Depreciation year as Calendar then the fiscal calendar change will not have an impact on my fixed assets. If we had selected Depreciation year as Fiscal then we might have issues?

I hope someone on the forum can provide guidance on my issues

Kind Regards

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