209普華永道--財務(wù)管理最佳實踐之固定資產(chǎn)管理

1、Best Practice Financial Processes: Fixed Assets,,Fixed Assets - Best Practice Objectives,,,,,,,Fixed AssetsObjectives,To maintain a complete register of all the organisation’s fixed assets which reflects location, age,

2、 current values, associated cost centresTo calculate depreciation consistently with financial reporting requirementsTo optimise replacement policiesTo minimise ownership costs,Organisation,Asset recording integrated w

3、ith maintenance and non financial dataCentralised asset accountingAsset ownership devolved to business unit level,,People,Control focusedChallenge asset requisition proposals,Processes,Maintain asset registerAcquisit

4、ions and disposalsDepreciation chargeVerifying asset baseMaintaining of valuation basis,Controls,Asset verificationAsset valuationAcquisition and disposal authorities,Measures,Number of assets maintainedCost of dep

5、artmentElapsed time to record asset,Information Systems,Asset ledgers integrated with GL and APDepreciation and project control by cost centreAutomated depreciation calculation,,,,,,,,Maintain fixedasset register,Con

6、trol acquisitionsand disposals,Manage periodicasset depreciation,Verify and valueasset base,Process Features,Determine asset categories for internal and statutory purposesMonitor asset maintenance chargesApply ins

7、urance valuation to key assetsEnsure asset responsibility at BU levelIdentify asset usage,Set up appropriate control of asset acquisition and disposals across companyReport on acquisitions and disposals on a monthl

8、y basisMonitor tax issues related to acquisitions or CIPEnsure BU responsibility for assets in their use and for disposal losses,Depreciate at point of asset useApply depreciation rules to asset classesDepreciati

9、on rates in management accounts in line with statutory ratesLinks asset depreciation to production and product costs/development,Revalue key assets on a regular basis based on book value and high riskComprehensive ass

10、et verification on regular periodic or rolling basis where asset cannot be verified via technical assumptions (most telco’s do not verify network assets: the fact that the network works is verification enough)Verify non

11、 capitalised assets,System Features,On line asset register holding key data and current cost allocationCost code validation with GLAutomatic links to AP and Project Accounting system to capture acquisitionsRevaluation

12、 of features and mass transfers of assets to new cost centresLeased asset features compliant with accounting standards,Acquisition linked to purchase order and accounts payable ledgerDisposals linked to sales ledgerCI

13、P linked to capital project accountingEffective tax management integrated with the fixed assets system,Depreciation charged automatically to cost centres in GLForecast asset depreciation for budget purposesVariable de

14、preciation rules for classes of assetsAssets can be grouped for depreciation rules,Variable asset valuation mechanisms eg historic, current replacementComplete asset reports by physical location and cost centreReport

15、on identified or missing assetsHold non capitalised physical assists for verificationBar coding of assets for verification,Fixed Assets - Best Practice Features,Fixed Assets - Measures/Cost Drivers,No of Business Unit

16、FTEs per Fixed Assets FTE,,,,,,,,,,,10 percentile,Median,90 percentile,£7,£31,£151,Cost drivers,Fixed Assets cost per Business Unit FTE (in £s),,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Median,14 days,,,,,,,,

17、,,,,,,,,,,,,,,90 percentile,40 days,,,,,,,10 percentile,1 day,Fixed Assets processing time,Complexity of assetsNumber of assets on registerNumber of asset movementsComplexity of depreciation policiesComplexity of aut

18、horisation proceduresRange of data heldNumber of users of data range,Source: Statistics taken from Benchmarking database: 21 February 1997,,,Separate fixed assets moduleLack of asset ownershipCost of asset usage not

19、 attributed to productPerformed by Finance Department,Integrated systems for:Asset tracking via Geographical Information System (GIS)Asset usageNetwork Capacity PlanningAsset MaintenanceCapital project planning and

20、 controlProduct/service costingBU responsibility for ownership,From,To,Fixed Assets - Trends,Fixed Assets - Critical Success Factors,These are a summary of the key business requirements, which must be met to achieve th

21、e objectives.,Asset accounting policies clearly documentedAppropriate coding by asset category establishedAuthority levels clearly definedProcedures surrounding Fixed Asset process are documented and communicated to s

22、taffBudgets in place for capital expenditureAll existing assets identified and classifiedStaff trained in FA process and have clear roles and responsibilitiesStatutory and tax requirements understoodFA calendar in p

23、lace and communicated to staffStanding data set up on the system reflecting asset accounting policiesAbility to model depreciation scenario,Inventory,Accounts Payable,Audit,Project accounting,Purchasing,General Ledger,

24、Fixed Assets,Fixed Assets - Level 0 Context Diagram,Asset data (depreciation etc),Goods issued,Asset details& asset payments,Mgt Reports,Statutory reports,Asset disposals,Capitalised assets,Commitments,Unique as

25、set identifier,Management Accounting,Accounts receivable,Maintenance,Maintenace Cycle,Circuit Provisioning,Usage data,,,,,,,,,,,,Fixed Assets - Level 1 Overview,FA 1.1 Maintain Standing Data,FA 1.2 Add Assets,FA 1.3

26、Dispose of Assets,FA 1.4 Maintain Asset Register,FA 1.5 Perform Period End Routines,,,,,,FA 1.6 Verify Physical Assets,Activities,,FA 1.7 Answer Adhoc queries,Raise request e.g. new asset classPrepare formal requestRev

27、iew and approve Set up new codes / dataNotify affected users and departments,Input automatic dataInput manual dataAdd additional informationPost asset details,,Receive requestTransfer assetsAdjust assetsRevalue

28、assetsCapitalise WIP assetsReport on amendmentsWrite - off / down assets,Capitalised labour calculationDepreciation calculated Depreciation posted to GL Reconcile accountsSend monthly reports to owners,Compile acc

29、urate data for asset verificationConduct inventory checkHighlight exceptionsTrack asset history & reconcileUpdate FA register & prepare GL journals,Receive requests for adhoc reportsProduce reports,Select a

30、ssets to disposeObtain quote if applicableSell / dispose of assetsNotify relevant accountantsRecord transactions in accountsReconcile GL accountsCalculate profit/loss on disposal,Changes in FAPolicies and Procedu

31、res,FA registerstructuremaintained,Updated FA Register,Updated FAregister &reports,ReconciledGL A/ c’s,Request for adhoc reports,Reports,Verified FARegister,Authorised GLadjustments,Assets from AP or project

32、accounting,Asset Additionnotification,GL a/ c’s maintainedfor disposal,Updated FARegister,GL a/c’s maintainedfor additions,,Asset addition notification,Amend/update asset types or categories,Maintain Standing Data,F

33、A 1.1,,,,,,,,Adjustments,Reports,Notification proceduresSystem validation controlsChange request proceduresAuthorisation rules,RequesterFA accountantFinance manager,System controlsAccounting policies,Disposal proce

34、dures, validation procedures, authorisation, reconciliation procedures,Cost centre manager, FA accounting staff,FA requester, financial manager,Reports,AP systemFA accounting staffCost centre managers,Authorisation p

35、roceduresMaintenance policySystem controls,FA accounting staffCost centre managerManagement accountant,Depreciation policiesMaintenance policiesSystems controlsMonth end reconciliationPeriod end timetableCost ce

36、ntre analysis,FA accounting staffFA system,Verification timetableInventory control systemAudit trialAuthorisation for write off’s,FA accounting staffInventory staff,Reporting guidelinesSystem controls,FA accounting

37、 staffFA systemsCost centre managers,Fixed Assets - Level 2 FA1.1 Maintain Standing Data,,,FA 1.11 Raise request,FA 1.12 Prepare formal request,FA 1.13 Review and approve,Sub Processes / Notes,,,FA 1.14 Set up new

38、 codes / data,Send request to FA accountant by e-mail with full explanation / reason for request,Evaluate request against current FA Register to identify actual need for new standing dataRaise request and attach origina

39、l,Evaluate requestCommunicate acceptance or rejection to originator,Set up standing data by FA AccountantReview set-up data and codes periodically,FA 1.15 Notify affected users and groups,Changes inFA PoliciesandPr

40、ocedures,Request,Formal request,Acceptedrequest,Rejected request,Actionedrequest,FA Registerstructuremaintained,Amend/updateasset typesor categories,,,Send formal notification of set-upNotify that request rejecte

41、d and why,Changerequestprocedures,Changerequestprocedures,Authorisationrules,Systemvalidationcontrols,Notificationprocedures,Requester,FA Accountant,Finance Managers,FA Accountant,FA Accountant,,Fixed Assets - No

42、tes on Maintain Standing Data,Best Practice FeaturesAsset accounting polices clearly documented; Master Data set up on the system to reflect these policiesAppropriate coding by asset category establishedProcedures sur

43、rounding the Fixed Asset process are documented and communicated to staff including requirements for issuing new codesAsset Register Rules incorporated into Master File, which control issues of new numbers within struct

44、ured coding schemeStaff trained in Fixed Asset Accounting processes and have clear roles and responsibilities. They should have a good understanding of network and engineering areasSupervisory staff understand statutor

45、y and tax requirementsInternal Control RequirementsOnce entered, updates should be verified against the original requestsCodes will be received from the Master File and updates will be confirmed against the Master Fil

46、eThe system will check that all required data fields are completeThere must be supervisory review for Master Data updatesKey Performance IndicatorsSpeed of update: time from receipt of request to modification and ver

47、ification of records: this should not exceed one dayNumber of input errors when asset details are validated: this should be zeroCost DriversComplexity of assetsNew types of assetsNumber of changes to physical locati

48、on coding,Fixed Assets - Level 2 FA1.2 Add Assets,FA 1.21 Input automatic data,FA 1.22 Input manual data,FA 1.23 Add additional information,FA 1.24 Post asset details,Sub Processes / Notes,Receive asset addition not

49、ifications from AP into FA RegisterRun interfaces with AP to transfer invoice linesTag/label asset with unique identifier,Manually enter assets which do not have invoice informationIdentify assets as ; WIP;Expenses;

50、 andCapitalised assets.,Add additional asset datail to lines e.g.assign asset categories;split or merge assets; andadd to existing as cost adjustment.Assign asset lifeAssign asset to departmental manager, location,

51、Post prepared lines to fixed asset register,Assets from AP orProject Accounting,Asset additionnotification,AP lines withSkeleton details,AP lines with additional information,Added Assets,Updated FA Register,FA regist

52、er structuremaintained,FA register structuremaintained,GL a/c maintained for additions,,System controlsAccounting policies,,AccountingPolicies,,SystemControls,AP SystemFA accounting staffSystem controls & acco

53、unting policies,,,FA accounting staff,,FA accounting staff,,FA accounting staffCost centre managers,,Fixed Assets - Notes Add Assets,Best Practice FeaturesLinked databases used in recording asset details, to increase a

54、ccuracy of the asset register and to eliminate duplicate paper trailsAppropriate asset “numbering” methods driven by users of asset information; bar coding used on relevant assetsDirect links to Project AccountingClea

55、r policy established for treatment of assets and guidance on how to classify different types of assets, to reduce the number of reclassifications neededSystem interconnection to MIS (Management Information Systems) for

56、tax and insurance planningAssets identified by “custodian”, i.e. person who controls the asset, rather than a department or the company as a wholeUnified transfer pricing in all Business Units for asset transfersUse o

57、f asset transfer strategy to optimise the usage of assetsInternal Control RequirementsAsset number controlsAll asset register updates reviewed after entry, to limit period end differencesUpdate details sent periodica

58、lly to source and asset custodian (or other initiator of the update) for information and coroboration purposesKey Performance IndicatorsNumber of reconciliation at period end: if a reconciliation is needed between Fixe

59、d Assets and other accounts, this indicates that one or other of the accounts is not up to dateNumber of changes processedNumber of verification adjustmentsCost DriversNumber of assetsAverage useful life of assets (

60、i.e. rate of asset turnover)Number of changes in Master Data leading to manual adjustments.(e.g. change in organisation codes)Number of revaluation's / disposals,Fixed Assets - Level 2 FA1.3 Dispose of Assets,Sa

61、les priceand buyerconfirmed,Sale/Disposalcompleted,Asset sale ordisposalregistered withAccounts dept,FARegisterupdated,Assetsidentifiedfor disposal,Asset disposalnotification,Interfaceto GL,,FA 1.31 Select a

62、ssets to dispose,FA 1.32 Obtain quote (if applicable),FA 1.33 Sell / Dispose of Asset,FA 1.34 Notify Accountants,FA 1.36 Reconcile GL accounts,Sub Processes / Notes,,,,,Cost Centre managers identify items for disposal,Co

63、st Centre manager to obtain quote for asset, place item in auction, or advertise as appropriate,Asset sold and monies received by Cost Centre managersCost Centre managers to ensure monies received for assets as agreed o

64、r expected from auctionInvoices raised by AR for sale of assets on credit,Cost Centre managers to notify FA staff /accounts of disposals Cost Centre manager to ensure asset payment received and registered.,Ensure FA r

65、egister reconciles with asset values in GLGL maintained for DisposalsEnsure that all details of profit / loss have been recorded accurately to the correct cost centres in GL,,FA accountant to update register with dispo

66、sals,FA 1.35 Record Transactions in accounts,,GL a/c’smaintainedfor disposals,Update FAregister,,Disposal procedures,,Valuation procedures,,Authorisation procedures,,Disposal procedures,,Disposal procedures,,Reconcili

67、ation procedures,Cost centre managers,Cost centre managers,Cost centre managers,Cost centre manager,FA accounting staffFA register,FA accounting staffFinancial manager,,,,,,,,Fixed Assets - Level 2 FA1.4 Maintain A

68、sset Register,FA 1.41 Receive Request,FA 1.42 Transfer Assets,FA 1.43 Adjust Assets,FA 1.44 Write-off / down assets,Sub Processes / Notes,FA 1.45 Revalue Assets,FA 1.46 Capitalise WIP Assets,FA 1.47 Report on adjus