What is the procedure to transfer assets from one project to another in SAP - oracle EBS in simple way ?

Use the Post Mass Additions process to create fixed assets from your mass addition lines. Oracle Assets creates subledger accounting entries to the appropriate CIP and asset cost accounts. For CIP assets, the CIP account comes from the asset lines generated in Oracle Projects and the asset account comes from the asset category associated with the asset. Oracle Subledger Accounting transfers the final accounting entries to Oracle General Ledger.

When you use Oracle Projects to track your capital projects, Oracle Projects acts as a subsidiary ledger for CIP and RWIP costs, and Oracle Assets acts as a subsidiary ledger for the capitalized asset costs and the accumulated depreciation account adjustments.