固定资产管理流程(.pptx

Best Practice Financial Processes:Fixed Assets2PwC175Fixed Assets-Best Practice ObjectivesFixed AssetsObjectivesTo maintain a complete register of all the organisations fixed assets which reflects location,age,current values,associated cost centresTo calculate depreciation consistently with financial reporting requirementsTo optimise replacement policiesTo minimise ownership costsOrganisationAsset recording integrated with maintenance and non financial dataCentralised asset accountingAsset ownership devolved to business unit levelPeopleControl focusedChallenge asset requisition proposalsProcessesMaintain asset registerAcquisitions and disposalsDepreciation chargeVerifying asset baseMaintaining of valuation basisControlsAsset verificationAsset valuationAcquisition and disposal authoritiesMeasuresNumber of assets maintainedCost of departmentElapsed time to record assetInformation SystemsAsset ledgers integrated with GL and APDepreciation and project control by cost centreAutomated depreciation calculation3PwC175Fixed Assets-Measures/Cost DriversNo of Business Unit FTEs per Fixed Assets FTE90 percentileMedian10 percentile5,2001,40035010 percentileMedian90 percentile731151Cost driversFixed Assets cost per Business Unit FTE(in s)Median14 days90 percentile40 days10 percentile1 dayFixed Assets processing timeComplexity of assetsNumber of assets on registerNumber of asset movementsComplexity of depreciation policiesComplexity of authorisation proceduresRange of data heldNumber of users of data rangeSource:Statistics taken from Benchmarking database:21 February 19974PwC175Separate fixed assets moduleLack of asset ownershipCost of asset usage not attributed to productPerformed by Finance DepartmentIntegrated systems for:Asset tracking via Geographical Information System(GIS)Asset usageNetwork Capacity PlanningAsset MaintenanceCapital project planning and controlProduct/service costingBU responsibility for ownershipFromToFixed Assets-Trends5PwC175Fixed Assets-Critical Success FactorsThese are a summary of the key business requirements,which must be met to achieve the objectives.Asset accounting policies clearly documentedAppropriate coding by asset category establishedAuthority levels clearly definedProcedures surrounding Fixed Asset process are documented and communicated to staffBudgets 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 place and communicated to staffStanding data set up on the system reflecting asset accounting policiesAbility to model depreciation scenario6PwC175InventoryAccounts PayableAuditProject accountingPurchasingGeneral LedgerFixed AssetsFixed Assets-Level 0 Context DiagramAsset data(depreciation etc)Goods issuedAsset details&asset paymentsMgt ReportsStatutory reportsAsset disposalsCapitalised assetsCommitmentsUnique asset identifierManagement AccountingAccounts receivableMaintenanceMaintenace CycleCircuit ProvisioningUsage data7PwC175Fixed Assets-Level 1 OverviewChanges in FAPolicies and ProceduresFA registerstructuremaintainedUpdated FA RegisterUpdated FAregister&reportsReconciledGL A/csRequest for adhoc reportsReportsVerified FARegisterAuthorised GLadjustmentsAssets from AP or project accountingAsset AdditionnotificationGL a/cs maintainedfor disposalUpdated FARegisterGL a/cs maintainedfor additions Asset addition notificationAmend/update asset types or categoriesMaintain Standing DataFA 1.1Add AssetsFA 1.2Dispose of AssetsFA 1.3Maintain Asset RegisterFA 1.4Verify Physical AssetsFA 1.6Answer Adhoc QueriesFA 1.7AdjustmentsReportsNotification proceduresSystem validation controlsChange request proceduresAuthorisation rulesRequesterFA accountantFinance managerSystem controlsAccounting policiesDisposal procedures,validation procedures,authorisation,reconciliation proceduresCost centre manager,FA accounting staff,FA requester,financial managerReportsAP systemFA accounting staffCost centre managersAuthorisation proceduresMaintenance policySystem controlsFA accounting staffCost centre managerManagement accountantDepreciation policiesMaintenance policiesSystems controlsMonth end reconciliationPeriod end timetableCost centre analysisFA accounting staffFA systemVerification timetableInventory control systemAudit trialAuthorisation for write offsFA accounting staffInventory staffReporting guidelinesSystem controlsFA accounting staffFA systemsCost centre managersPerform Period End RoutinesFA 1.58PwC175Fixed Assets-Level 2 FA1.1 Maintain Standing DataChanges inFA PoliciesandProceduresRequestFormal requestAcceptedrequestRejected requestActionedrequestFA RegisterstructuremaintainedAmend/updateasset typesor categories Raise requestFA 1.11Prepare formal requestFA 1.12Set up new codes/dataFA 1.14Notify affected users&groupsFA 1.15ChangerequestproceduresChangerequestproceduresAuthorisationrulesSystemvalidationcontrolsNotificationproceduresRequesterFA AccountantFinance ManagersFA AccountantFA AccountantReview and approveFA 1.139PwC175Fixed Assets-Notes on Maintain Standing DataBest Practice FeaturesAsset accounting polices clearly documented;Master Data set up on the system to reflect these policiesAppropriate coding by asset category establishedProcedures surrounding 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 structured 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 statutory 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 FileThe 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 verification 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 location coding10PwC175Fixed Assets-Level 2 FA1.2 Add AssetsAssets from AP orProject AccountingAsset additionnotificationAP lines withSkeleton detailsAP lines with additional informationAdded AssetsUpdated FA RegisterFA register structuremaintainedFA register structuremaintainedGL a/c maintained for additionsInput automatic dataFA 1.21Add additional informationFA 1.23Post asset detailsFA 1.24Input manual dataFA 1.22System controlsAccounting policiesAccountingPoliciesSystemControlsAP SystemFA accounting staffSystem controls&accounting policiesFA accounting staffFA accounting staffFA accounting staffCost centre managers11PwC175Fixed Assets-Notes Add AssetsBest Practice FeaturesLinked databases used in recording asset details,to increase accuracy 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 AccountingClear 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 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 of 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 periodically 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 Fixed 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(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/disposals12PwC175Fixed Assets-Level 2 FA1.3 Dispose of AssetsSales priceand buyerconfirmedSale/DisposalcompletedAsset sale ordisposalregistered withAccounts deptFARegisterupdatedAssetsidentifiedfor disposalAsset disposalnotificationInterfaceto GLSelect assets to disposeFA 1.31Obtain quote(if applicable)FA 1.32Sell/dispose of assetsFA 1.33Notify financeFA 1.34Reconcile GL accountsFA 1.36GL a/csmaintainedfor disposalsUpdate FAregisterDisposal proceduresValuation proceduresAuthorisation proceduresDisposal proceduresDisposal proceduresReconciliation proceduresCost centre managersCost centre managersCost centre managersCost centre managerFA accounting staffFA registerFA accounting staffFinancial managerRecord transactions in accountsFA 1.3513PwC175Fixed Assets-Level 2 FA1.4 Maintain Asset RegisterSystems controlsUpdated FARegisterFA accounting staffCost centre managersManagement accountantAuthorisation proceduresMaintenance policyAsset register updatedReportsAuthorisation proceduresMaintenance policyFA Accounting staffCost centre managersReceive requestFA 1.4Transfer AssetsFA 1.42Adjust AssetsFA 1.43Write-off/down AssetsFA 1.44Revalued AssetsFA 1.45Capitalise WIP AssetsFA 1.46Report on adjustmentsFA 1.47FA accounting staffApproved request14PwC175Fixed Assets-Level 2 FA1.5 Perform Period End RoutineReportsUpdated FAregister&reportsReconciled GLaccountsDepreciationamountsFA interface with GLAdjustmentsCalculate depreciationFA 1.52Postdepreciationto GLFA 1.53ReconcileaccountsFA 1.54Spend monthly reports to asset ownersFA 1.55Depreciation policiesMaintenance policiesSystems controlsMonth end reconciliationPeriod end timetableCost centre analysisPeriod end timetableFA accounting staffFA accounting staffFA systemFA accounting staffFA accounting staffFA systemAdjustments15PwC175Fixed Assets-Notes Depreciation calculation Best Practice featuresIntegrated fixed asset systems to calculate depreciation charges for tax and accounting purposesDepreciation rates by asset category are based on useful life of the asset,rather than designed to meet accounting requirements onlyConsistency of depreciation methods and rates across the businessInternal Control requirementsResults of depreciation run compared to expected amounts(from budget or forecast)to identify potential errors and over-runsUpdates to assets depreciation information must only be accepted if properly authorised and consistent with management/tax policyKey Performance Indicators Time taken to update depreciation data in fixed asset register at period close Reconciling items on depreciation accounts:should be zeroCost DriversNumber of depreciation ratesNumber of assets16PwC175Fixed Assets-Notes Perform Period End RoutineBest Practice FeaturesAutomatic data flows between ledgers,e.g.,between Fixed Asset Register and General Ledger,Project Accounting,etc.,to remove manual reconciliation effortSystem allows assets to be grouped or desegregated for reporting purposesInternal Control RequirementsSystem internal controls(e.g.user profiles)Timely and accurate clearance of system reject reportsReconciliation of budget Vs.actual period end totalsReconciliation of movement in fixed asset accounts for the month(e.g.new NBV=old NBV+additions-disposals-depreciation)Key Performance IndicatorsTime taken to close Fixed Asset Register at period endTime taken to complete the GL/FA reconciliation Differences during reconciliationTime to print out the period end reportsCost DriversNumber of asset recordsCPU time for generation of reportsReconciliation required to clear General Ledger mis-matchesNumber of necessary changes during reconciliation with General Ledger17PwC175Fixed Assets-Level 2 FA1.6 Verify Physical AssetsUpdated FAregister&reportsComplete listfor InventorycontrolFeedbackon itemsheldItems to be furtherinvestigatedIdentifiedcorrectionsVerified FAregisterAuthorisedGL adjustmentsCompile accurate data for asset verificationFA 1.61Conduct inventory checkFA 1.62Highlight exceptionsFA 1.63Track asset history and reconcileFA 1.64Update FA register&prepare GL journalsFA 1.65Verification timetableInventory control systemInventory control systemAudit trialAuthorisation for write offsFA accounting staffInventory staffFA accounting staffFA accounting staffFA accounting staffFA accounting staff18PwC175Fixed Assets-Notes Verify Physical Assets Best Practice featuresAll existing capitalised assets identified and classifiedRegular physical verification,focused on high-value and high-risk areasUse alternative verification methods where appropriate eg review maintenance log,establish that asset is operating effectivelyInternal Control requirementsRegular physical verification exercises and reconciliation to the Fixed Asset RegisterFixed Assets must ensure that transferred assets retain their original project number identification in the asset record,to ensure appropriate access to archived recordsCost DriversNumber of verifications required19PwC175Fixed Assets-Level 2-FA 1.7 Answer Adhoc QueriesReceive request for adhoc reportsFA 1.71Produce reportsFA 1.72FA RegisterFA accounting staffFA systemsRequest for adhoc reportsReportsFA Report routineReportsSystem controlsFA register routinesFA accounting staffFA systemsCost centre managers20PwC175Fixed Assets-Appendix 1:IDEF Process FlowThe diagram below provides a key to the process diagrams used in this document.Process/activityControls(i.e.ProceduresStandardsRequirements for rework)Output(i.e.InformationMaterial)Resources(i.e.PeopleFunctionsIT systemsMachines)Input(i.e.InformationMaterial)