Delete old assets and related classes

Dear Experts,
We have a new support client. They want to revise their Asset Classes as at the time of implementation too many asset classes (around 70) had been created. Now they want to have limited asset classes as per the Schedule VI.
On the other threads the solution suggested by experts is to create the desired asset classes and create new assets (per old asset) and transfer the balances from old assets to new assets through T.Code ABUMN.
My doubt is:
1. How feasible is above solution when already 1 year's data exists in assets?
2. If this solution is to be worked out, can we delete the old assets and asset classes, AFTER transferring the balances to new assets.
Regards
Amar
Edited by: Z_Amarendra on Jun 10, 2009 8:30 AM

Thanks Paul,
- How feasible would it be to go with this option?
- Can the new asset classes and and the assets be immediately used after transferring the balances through ABUMN? Or need to wait till new fiscal year...?
Reply awaited
Regards
Amar

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