ACL ESSENTIALS. Get insight into your ERP process health, compliance & financial exposure FIXED ASSET MANAGEMENT

Transcription

1 ACL ESSENTIALS Get insight into your ERP process health, compliance & financial exposure FIXED ASSET MANAGEMENT

2 Page Analytic Name Fixed assets listing AM Analytic 01 Fixed assets with zero book value AM Analytic 02 Fixed assets with no depreciation AM Analytic 03 Sample of fixed assets for physical inspection by audit AM Analytic 04 Version /02

3 ACCOUNTS PAYABLE Extracts a listing of fixed assets ACL ESSENTIALS FIXED ASSET MANAGEMENT PAGE 3

4 CONTEXT A fixed assets listing provides a summary of all assets held within an organisation. RISK Lack of fixed asset register management and maintenance. PROCEDURE Extracts a current listing of fixed assets. ANALYTIC LOGIC Extracts a current listing of all fixed assets in the system. OUTPUT RESULTS FIELD NAMES Company Code Company Name Asset Number Asset Description Asset Class Accumulated Depreciation Asset Class Description Acquisition Value Cost Value Incl. Revaluation Book Value Report Currency OUTPUT VISUALIZATION EXAMPLES Count of fixed assets by class Fixed asset listing by acquisition value ACL ESSENTIALS FIXED ASSET MANAGEMENT AM_ANALYTIC_01_AMCS101 PAGE 4

5 Extracts all fixed assets a book value of zero ACL ESSENTIALS FIXED ASSET MANAGEMENT PAGE 5

6 CONTEXT Fixed assets listed with a zero book value are indicative of assets that have incorrect useful lives and/or are incorrectly valued. RISK Assets are incorrectly valued or have incorrect useful lives. PROCEDURE Identifies all fixed assets with a book value of zero. ANALYTIC LOGIC Extracts fixed assets in the system with a book value of zero (where cost including revaluations equals accumulated depreciation). OUTPUT RESULTS FIELDS Company Code Company Name Asset Number Asset Description Acquisition Value Asset Class Cost Value Incl. Revaluation Accumulated Depreciation Book Value Report Currency OUTPUT VISUALIZATION EXAMPLES Pie chart of total acquisition by asset class Asset number by asset class Acquisition value by asset class ACL ESSENTIALS FIXED ASSET MANAGEMENT AM_ANALYTIC_02_AMCS102 PAGE 6

7 Extract all fixed assets with no depreciation ACL ESSENTIALS FIXED ASSET MANAGEMENT PAGE 7

8 CONTEXT Depreciation shows a reduction in the value of an asset over time, as the asset is used in the business. Depreciation methods should be aligned to accounting standards and applied consistently every year. RISK Contravention of accountingstandards and overstatement of the balance sheet. PROCEDURE Identifies all fixed assets with no depreciation. Note: Certain fixed assets such as investment property, land, and assets under construction are not depreciable assets. These asset classes should ideally be excluded for purposes of this analytic. ANALYTIC LOGIC Extracts all those assets with zero accumulated depreciation. OUTPUT RESULTS FIELD NAMES Asset Number Asset Description Asset Class Asset Class Description Acquisition Value Cost Value Incl Revaluation Report Accumulated Depreciation Report Book Value Report Currency OUTPUT VISUALIZATION EXAMPLES Heat map of total acquisitions by asset and description Total book value of exceptions by asset ACL ESSENTIALS FIXED ASSET MANAGEMENT AM_ANALYTIC_03_AMCS103 PAGE 8

9 Generates a sample of fixed assets for physical inspection by audit ACL ESSENTIALS FIXED ASSET MANAGEMENT PAGE 9

10 CONTEXT Physical inspection of assets verifies the existence of the assets. It also assists with confirming the condition of the asset to validate its valuation. RISK Non-existence of assets listed on the fixed asset register. PROCEDURE Generates a sample of fixed assets for physical inspection by audit. ANALYTIC LOGIC Extracts a random sample of fixed assets using the random sampling method of ACL. VARIABLE Sample size. OUTPUT RESULTS FIELD NAMES Company Code Company Name Asset Plant Location Asset Number Asset Description Asset Class Asset Class Description Report Acquisition Value Cost Value Incl. Revaluation Report Accumulated Depreciation Report Book Value Report Currency Asset Value First Post Asset Capitalization Date Asset Value Last Post Deactivation Date OUTPUT VISUALIZATION EXAMPLES Acquisition value of assets Book value of assets ACL ESSENTIALS FIXED ASSET MANAGEMENT AM_ANALYTIC_04_AMCS104 PAGE 10