PwC的財(cái)務(wù)管理最佳實(shí)踐FINFABestPractice課件

1、Best Practice Financial Processes: Fixed Assets第1頁，共18頁。Fixed 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

2、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 proposa

3、lsProcessesMaintain asset registerAcquisitions and disposalsDepreciation chargeVerifying asset baseMaintaining of valuation basisControlsAsset verificationAsset valuationAcquisition and disposal authoritiesMeasuresNumber of assets maintainedCost of departmentElapsed time to record assetInformation S

4、ystemsAsset ledgers integrated with GL and APDepreciation and project control by cost centreAutomated depreciation calculation第2頁，共18頁。Maintain fixedasset registerControl acquisitionsand disposalsManage periodicasset depreciationVerify and valueasset baseProcess FeaturesDetermine asset categories fo

5、r internal and statutory purposesMonitor asset maintenance chargesApply insurance 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 monthly basisMoni

6、tor tax issues related to acquisitions or CIPEnsure BU responsibility for assets in their use and for disposal lossesDepreciate at point of asset useApply depreciation rules to asset classesDepreciation rates in management accounts in line with statutory ratesLinks asset depreciation to production a

7、nd product costs/developmentRevalue key assets on a regular basis based on book value and high riskComprehensive asset verification on regular periodic or rolling basis where asset cannot be verified via technical assumptions (most telcos do not verify network assets: the fact that the network works

8、 is verification enough)Verify non capitalised assetsFixed Assets - Best Practice Features第3頁，共18頁。Maintain fixedasset registerControl acquisitionsand disposalsManage periodicasset depreciationVerify and valueasset baseSystem FeaturesOn line asset register holding key data and current cost allocatio

9、nCost code validation with GLAutomatic links to AP and Project Accounting system to capture acquisitionsRevaluation of features and mass transfers of assets to new cost centresLeased asset features compliant with accounting standardsAcquisition linked to purchase order and accounts payable ledgerDis

10、posals linked to sales ledgerCIP linked to capital project accountingEffective tax management integrated with the fixed assets systemDepreciation charged automatically to cost centres in GLForecast asset depreciation for budget purposesVariable depreciation rules for classes of assetsAssets can be g

11、rouped for depreciation rulesVariable asset valuation mechanisms eg historic, current replacementComplete asset reports by physical location and cost centreReport on identified or missing assetsHold non capitalised physical assists for verificationBar coding of assets for verificationFixed Assets -

12、Best Practice Features第4頁，共18頁。Fixed 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

13、 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 1997第5頁，共1

14、8頁。Separate 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 controlPr

15、oduct/service costingBU responsibility for ownershipFromToFixed Assets - Trends第6頁，共18頁。Fixed 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 cat

16、egory 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

17、tax requirements understoodFA calendar in place and communicated to staffStanding data set up on the system reflecting asset accounting policiesAbility to model depreciation scenario第7頁，共18頁。Fixed Assets - Level 0 Context DiagramInventoryAccounts PayableAuditProject accountingPurchasingGeneral Ledge

18、rFixed AssetsAsset data (depreciation etc)Goods issuedAsset details& asset paymentsMgt ReportsStatutory reportsAsset disposalsCapitalised assetsCommitmentsUnique asset identifierManagement AccountingAccounts receivableMaintenanceMaintenace CycleCircuit ProvisioningUsage data第8頁，共18頁。Fixed Assets - L

19、evel 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 maintaine

20、dfor 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 1.7AdjustmentsReportsNoti

21、fication proceduresSystem validation controlsChange request proceduresAuthorisation rulesRequesterFA accountantFinance managerSystem controlsAccounting policiesDisposal procedures, validation procedures, authorisation, reconciliation proceduresReportsAP systemFA accounting staffCost centre managersA

22、uthorisation proceduresMaintenance policySystem controlsFA accounting staffCost centre managerManagement accountantDepreciation policiesMaintenance policiesSystems controlsMonth end reconciliationPeriod end timetableCost centre analysisFA accounting staffFA systemVerification timetableInventory cont

23、rol systemAudit trialAuthorisation for write offsFA accounting staffInventory staffReporting guidelinesSystem controlsPerform Period End RoutinesFA 1.5第9頁，共18頁。Fixed Assets - Notes on Maintain Standing DataBest Practice FeaturesAsset accounting polices clearly documented; Master Data set up on the s

24、ystem 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 w

25、ithin 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, updat

26、es 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 updates第10頁，共18頁。Fixed Assets - Notes o

27、n Maintain Standing DataKey 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 assetsNu

28、mber of changes to physical location coding第11頁，共18頁。Fixed 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

29、 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)

30、 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 Requ

31、irementsAsset 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 purposes第12頁，共18頁。Fixed Assets - Notes Add AssetsKey Performance IndicatorsNu

32、mber 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.

33、rate of asset turnover)Number of changes in Master Data leading to manual adjustments.(e.g. change in organisation codes)Number of revaluations / disposals第13頁，共18頁。Fixed Assets - Notes Depreciation calculation Best Practice featuresIntegrated fixed asset systems to calculate depreciation charges fo

34、r 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 expe

35、cted 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

36、at period close Reconciling items on depreciation accounts: should be zeroCost DriversNumber of depreciation ratesNumber of assets第14頁，共18頁。Fixed Assets - Notes Perform Period End RoutineBest Practice FeaturesAutomatic data flows between ledgers, e.g., between Fixed Asset Register and General Ledger

37、, 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. actu

38、al period end totalsReconciliation of movement in fixed asset accounts for the month (e.g. new NBV = old NBV + additions - disposals - depreciation)第15頁，共18頁。Fixed Assets - Notes Perform Period End RoutineKey Performance IndicatorsTime taken to close Fixed Asset Register at period endTime taken to complete the GL/FA reco