209普华永道--财务管理最佳实践之固定资产管理.ppt

1、Best Practice Financial Processes: Fixed Assets,Fixed Assets - Best Practice Objectives,Fixed Assets Objectives,To maintain a complete register of all the organisations fixed assets which reflects location, age, current values, associated cost centres To calculate depreciation consistently with fina

2、ncial 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 pr

3、oposals,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

4、 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,Deter

5、mine 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 across company Report on acquisitions and dis

6、posals 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

7、 asset depreciation to production and product costs/development,Revalue key assets on a regular basis based on book value and high risk Comprehensive asset verification on regular periodic or rolling basis where asset cannot be verified via technical assumptions (most telcos do not verify network as

8、sets: the fact that the network works is verification enough) Verify non capitalised assets,System Features,On line asset register holding key data and current cost allocation Cost code validation with GL Automatic links to AP and Project Accounting system to capture acquisitions Revaluation of feat

9、ures and mass transfers of assets to new cost centres Leased asset features compliant with accounting standards,Acquisition linked to purchase order and accounts payable ledger Disposals linked to sales ledger CIP linked to capital project accounting Effective tax management integrated with the fixe

10、d assets system,Depreciation charged automatically to cost centres in GL Forecast asset depreciation for budget purposes Variable depreciation rules for classes of assets Assets can be grouped for depreciation rules,Variable asset valuation mechanisms eg historic, current replacement Complete asset

11、reports by physical location and cost centre Report on identified or missing assets Hold non capitalised physical assists for verification Bar coding of assets for verification,Fixed Assets - Best Practice Features,Fixed Assets - Measures/Cost Drivers,No of Business Unit FTEs per Fixed Assets FTE,10

12、 percentile,Median,90 percentile,7,31,151,Cost drivers,Fixed Assets cost per Business Unit FTE (in s),Median,14 days,90 percentile,40 days,10 percentile,1 day,Fixed Assets processing time,Complexity of assets Number of assets on register Number of asset movements Complexity of depreciation policies

13、Complexity of authorisation procedures Range of data held Number of users of data range,Source: Statistics taken from Benchmarking database: 21 February 1997,Separate fixed assets module Lack of asset ownership Cost of asset usage not attributed to product Performed by Finance Department,Integrated

14、systems for: Asset tracking via Geographical Information System (GIS) Asset usage Network Capacity Planning Asset Maintenance Capital project planning and control Product/service costing BU responsibility for ownership,From,To,Fixed Assets - Trends,Fixed Assets - Critical Success Factors,These are a

15、 summary of the key business requirements, which must be met to achieve the objectives.,Asset accounting policies clearly documented Appropriate coding by asset category established Authority levels clearly defined Procedures surrounding Fixed Asset process are documented and communicated to staff B

16、udgets in place for capital expenditure All existing assets identified and classified Staff trained in FA process and have clear roles and responsibilities Statutory and tax requirements understood FA calendar in place and communicated to staff Standing data set up on the system reflecting asset acc

17、ounting policies Ability to model depreciation scenario,Inventory,Accounts Payable,Audit,Project accounting,Purchasing,General Ledger,Fixed Assets,Fixed Assets - Level 0 Context Diagram,Asset data (depreciation etc),Goods issued,Asset details Master Data set up on the system to reflect these policie

18、s Appropriate coding by asset category established Procedures surrounding the Fixed Asset process are documented and communicated to staff including requirements for issuing new codes Asset Register Rules incorporated into Master File, which control issues of new numbers within structured coding sch

19、eme Staff trained in Fixed Asset Accounting processes and have clear roles and responsibilities. They should have a good understanding of network and engineering areas Supervisory staff understand statutory and tax requirements Internal Control Requirements Once entered, updates should be verified a

20、gainst the original requests Codes will be received from the Master File and updates will be confirmed against the Master File The system will check that all required data fields are complete There must be supervisory review for Master Data updates Key Performance Indicators Speed of update: time fr

21、om receipt of request to modification and verification of records: this should not exceed one day Number of input errors when asset details are validated: this should be zero Cost Drivers Complexity of assets New types of assets Number of changes to physical location coding,Fixed Assets - Level 2 FA

22、1.2 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 notifications from AP into FA Register Run interfaces with AP to transfer invoice lines Tag/label asset with unique identif

23、ier,Manually enter assets which do not have invoice information Identify assets as ; WIP; Expenses; and Capitalised assets.,Add additional asset datail to lines e.g. assign asset categories; split or merge assets; and add to existing as cost adjustment. Assign asset life Assign asset to departmental

24、 manager, location,Post prepared lines to fixed asset register,Assets from AP or Project Accounting,Asset addition notification,AP lines with Skeleton details,AP lines with additional information,Added Assets,Updated FA Register,FA register structure maintained,FA register structure maintained,GL a/

25、c maintained for additions,System controls Accounting policies,Accounting Policies,System Controls,AP System FA accounting staff System controls bar coding used on relevant assets Direct links to Project Accounting Clear policy established for treatment of assets and guidance on how to classify diff

26、erent types of assets, to reduce the number of reclassifications needed System interconnection to MIS (Management Information Systems) for tax and insurance planning Assets identified by “custodian”, i.e. person who controls the asset, rather than a department or the company as a whole Unified trans

27、fer pricing in all Business Units for asset transfers Use of asset transfer strategy to optimise the usage of assets Internal Control Requirements Asset number controls All asset register updates reviewed after entry, to limit period end differences Update details sent periodically to source and ass

28、et custodian (or other initiator of the update) for information and coroboration purposes Key Performance Indicators Number of reconciliation at period end: if a reconciliation is needed between Fixed Assets and other accounts, this indicates that one or other of the accounts is not up to date Numbe

29、r of changes processed Number of verification adjustments Cost Drivers Number of assets Average useful life of assets (i.e. rate of asset turnover) Number of changes in Master Data leading to manual adjustments.(e.g. change in organisation codes) Number of revaluations / disposals,Fixed Assets - Lev

30、el 2 FA1.3 Dispose of Assets,Sales price and buyer confirmed,Sale/Disposal completed,Asset sale or disposal registered with Accounts dept,FA Register updated,Assets identified for disposal,Asset disposal notification,Interface to GL,FA 1.31 Select assets to dispose,FA 1.32 Obtain quote (if applicabl

31、e),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,Cost Centre manager to obtain quote for asset, place item in auction, or advertise as appropriate,Asset sold and monies received by Cost

32、Centre managers Cost Centre managers to ensure monies received for assets as agreed or expected from auction Invoices 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 F

33、A register reconciles with asset values in GL GL maintained for Disposals Ensure that all details of profit / loss have been recorded accurately to the correct cost centres in GL,FA accountant to update register with disposals,FA 1.35 Record Transactions in accounts,GL a/cs maintained for disposals,

34、Update FA register,Disposal procedures,Valuation procedures,Authorisation procedures,Disposal procedures,Disposal procedures,Reconciliation procedures,Cost centre managers,Cost centre managers,Cost centre managers,Cost centre manager,FA accounting staff FA register,FA accounting staff Financial mana

35、ger,Fixed Assets - Level 2 FA1.4 Maintain Asset 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 adjustments,Receive request to alter fixed asset

36、s register,Transfer single asset between GL depreciation expense accounts or departments Transfer a group of assets between GL depreciation expense accounts or departments,Reserve adjustments i.e. adjust for accumulated depreciation for single or groups of assets,Fully or partly write off assets Cal

37、culate gains and losses before running depreciation,Recognise go live status Commence depreciation,Revalue assets Run depreciation,Run reports detailing changes to FA register,Systems controls,Updated FA Register,FA accounting staff Cost centre managers Management accountant,Authorisation procedures

38、 Maintenance policy,Asset register updated,Reports,Authorisation procedures Maintenance policy,FA Accounting staff Cost centre managers,FA accounting staff,Approved request,Fixed Assets - Level 2 FA1.5 Perform Period End Routine,Sub Processes / Notes,FA 1.52 Calculate depreciation,FA 1.53 Post depre

39、ciation to GL,FA 1.54 Reconcile accounts,FA 1.55 Send monthly reports to asset owners,Calculate cumulative depreciation to date in the year based on current asset register with reference to relevant asset rules,Prepare all postings for GL e.g. additions, disposals, depreciation, adjustments Post to

40、GL automatically,Reconcile Asset register to Balance Sheet Report on adjustments / corrections required,Generate standard month end asset / depreciation report for relevant managers,Reports,Updated FA register & reports,Reconciled GL accounts,Depreciation amounts,FA interface with GL,Adjustments,Dep

41、reciation policies Maintenance policies,Systems controls,Month end reconciliation Period end timetable Cost centre analysis,Period end timetable,FA accounting staff,FA accounting staff FA system,FA accounting staff,FA accounting staff FA system,Adjustments,Fixed Assets - Notes Depreciation calculati

42、on,Best Practice features Integrated fixed asset systems to calculate depreciation charges for tax and accounting purposes Depreciation rates by asset category are based on useful life of the asset, rather than designed to meet accounting requirements only Consistency of depreciation methods and rat

43、es across the business Internal Control requirements Results of depreciation run compared to expected amounts (from budget or forecast) to identify potential errors and over-runs Updates to assets depreciation information must only be accepted if properly authorised and consistent with management/ta

44、x policy Key Performance Indicators Time taken to update depreciation data in fixed asset register at period close Reconciling items on depreciation accounts: should be zero Cost Drivers Number of depreciation rates Number of assets,Fixed Assets - Notes Perform Period End Routine,Best Practice Featu

45、res Automatic data flows between ledgers, e.g., between Fixed Asset Register and General Ledger, Project Accounting, etc., to remove manual reconciliation effort System allows assets to be grouped or desegregated for reporting purposes Internal Control Requirements System internal controls (e.g. use

46、r profiles) Timely and accurate clearance of system reject reports Reconciliation of budget Vs. actual period end totals Reconciliation of movement in fixed asset accounts for the month (e.g. new NBV = old NBV + additions - disposals - depreciation) Key Performance Indicators Time taken to close Fix

47、ed Asset Register at period end Time taken to complete the GL/FA reconciliation Differences during reconciliation Time to print out the period end reports Cost Drivers Number of asset records CPU time for generation of reports Reconciliation required to clear General Ledger mis-matches Number of nec

48、essary changes during reconciliation with General Ledger,Fixed Assets - Level 2 FA1.6 Verify Physical Assets,FA 1.61 Compile accurate data for asset verification,FA 1.62 Conduct inventory check,Sub Processes / Notes,FA 1.63 Highlight exceptions,FA 1.64 Track asset history & reconcile,FA 1.65 Update

49、FA register & prepare GL journals,Validation checks on FA register Compile FA reports to required specifications,Conduct inventory check / FA verification Complete formal check reports,Identify book value and physically check variances Report differences,Track asset histories / audit trial Reconcile differences,Enter write-off on FA register via adjustment or disposal journals,Updated FA register & reports,Complete list for Inventory control,Feedback on items held,Items to be further investigated,Identified corrections,Verified FA reg