文档介绍：Best Practice Financial Processes: Fixed Assets
Fixed Assets - Best Practice Objectives
Fixed Assets
Objectives
To maintain plete register of all anisation’s fixed assets which reflects location, age, current values, associated cost centres
To calculate depreciation consistently with financial reporting requirements
To optimise replacement policies
To minimise ownership costs
Organisation
Asset recording integrated with maintenance and non financial data
Centralised asset accounting
Asset ownership devolved to business unit level
People
Control focused
Challenge asset requisition proposals
Processes
Maintain asset register
Acquisitions and disposals
Depreciation charge
Verifying asset base
Maintaining of valuation basis
Controls
Asset verification
Asset valuation
Acquisition and disposal authorities
Measures
Number of assets maintained
Cost of department
Elapsed time to record asset
Information Systems
Asset ledgers integrated with GL and AP
Depreciation and project control by cost centre
Automated depreciation calculation
Maintain fixed
asset register
Control acquisitions
and disposals
Manage periodic
asset depreciation
Verify and value
asset base
Process Features
Determine asset categories for internal and statutory purposes
Monitor asset maintenance charges
Apply insurance valuation to key assets
Ensure asset responsibility at BU level
Identify asset usage
Set up appropriate control of asset acquisition and disposals pany
Report on acquisitions and disposals on a monthly basis
Monitor tax issues related to acquisitions or CIP
Ensure BU responsibility for assets in their use and for disposal losses
Depreciate at point of asset use
Apply depreciation rules to asset classes
Depreciation rates in management accounts in line with statutory rates
Links asset depreciation to production and product costs/development
Revalue key assets on a regular basis based on book value and high prehensive asset verification on regular periodic or ro