ACL ESSENTIALSacl.software/EssentialsPDF/AM_EN.pdf · FIXED ASSET MANAGEMENT ACL ESSENTIALS Get...
Transcript of ACL ESSENTIALSacl.software/EssentialsPDF/AM_EN.pdf · FIXED ASSET MANAGEMENT ACL ESSENTIALS Get...
FIXED ASSET MANAGEMENT
ACL ESSENTIALSGet insight into your ERP process health,
compliance & financial exposure
Page Analytic Name
Fixed assets listingAM Analytic 01
Fixed assets with zero book valueAM Analytic 02
Fixed assets with no depreciationAM Analytic 03
Sample of fixed assets for physical inspection by auditAM Analytic 04
Version 6.0.0 –2018/02
ACL ESSENTIALS | FIXED ASSET MANAGEMENT | AM_ANALYTIC_01_AMCS101
CONTEXTA fixed assets listing provides a summary of all assets held within an organisation.
RISKLack of fixed asset register management and maintenance.
PROCEDUREExtracts a current listing of fixed assets.
ANALYTIC LOGICExtracts a current listing of all fixed assets in the system.
OUTPUT RESULTS FIELD NAMES
Company Code Company Name Asset Number Asset Description
Asset Class Description
OUTPUT VISUALIZATION EXAMPLES
PAGE 4
Acquisition Value
Asset Class
Cost Value Incl. Revaluation
Accumulated Depreciation
Book Value Report Currency
Count of fixed assets by class
Fixed asset listing by acquisition value
ACL ESSENTIALS | FIXED ASSET MANAGEMENT | AM_ANALYTIC_02_AMCS102
CONTEXTFixed assets listed with a zero book value are indicative of assets that have incorrect useful lives and/or are incorrectly valued.
RISKAssets are incorrectly valued or have incorrect useful lives.
PROCEDUREIdentifies all fixed assets with a book value of zero.
ANALYTIC LOGICExtracts fixed assets in the system with a book value of zero (where cost includingrevaluations equals accumulated depreciation).
OUTPUT RESULTS FIELDS
OUTPUT VISUALIZATION EXAMPLES
PAGE 6
Asset Number Asset Description Asset ClassAcquisition Value
Cost Value Incl. Revaluation Book Value Report CurrencyAccumulated Depreciation
Pie chart of total acquisition by asset class
Asset number by asset class
Acquisition value by asset class
Company Code Company Name
ACL ESSENTIALS | FIXED ASSET MANAGEMENT | AM_ANALYTIC_03_AMCS103
RISKContravention of accounting standards and overstatement of the balance sheet.
PROCEDUREIdentifies all fixed assets with no depreciation.Note: Certain fixed assets such as investment property, land, and assets underconstruction are not depreciable assets. These asset classes should ideally beexcluded for purposes of this analytic.
ANALYTIC LOGICExtracts all those assets with zero accumulated depreciation.
OUTPUT RESULTS FIELD NAMES
OUTPUT VISUALIZATION EXAMPLES
CONTEXTDepreciation 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.
PAGE 8
Heat map of total acquisitions by asset and description
Total book value of exceptions by asset
Asset Number Asset Description Asset Class Asset Class Description Acquisition Value
Report Accumulated Depreciation Report Book ValueCost Value Incl Revaluation Report Currency
Generates a sample of fixed assets for physical inspection by audit
PAGE 9
ACL ESSENTIALS –FIXED ASSET MANAGEMENT
ACL ESSENTIALS | FIXED ASSET MANAGEMENT | AM_ANALYTIC_04_AMCS104
RISKNon-existence of assets listed on the fixed asset register.
PROCEDUREGenerates a sample of fixed assets for physical inspection by audit.
ANALYTIC LOGICExtracts a random sample of fixed assets using the random sampling method ofACL.
VARIABLESample size.
CONTEXTPhysical inspection of assets verifies the existence of the assets. It also assists with confirming the condition of the asset to validate its valuation.
PAGE 10
OUTPUT RESULTS FIELD NAMES
OUTPUT VISUALIZATION EXAMPLES
Acquisition value of assets
Book value of assets
Company Code Company Name Asset Plant Location Asset Number Asset Description
Report Acquisition Value Cost Value Incl. RevaluationAsset Class Description Report Accumulated Depreciation
Asset Class
Report Book Value Report Currency Asset Value First Post Asset Capitalization Date Asset Value Last Post
Deactivation Date