Guideline on Common Financial Management Business Process 4.1 - Manage Other Capital Assets
Long description for image: Figure 4: Create or Update Asset Record (Subprocess 4.1.1) – Level 3 Process Flow
The figure is a process flow diagram comprising activities, connectors, inputs, outputs, gateways and decisions.
This diagram depicts the Level 3 process flow for Subprocess 4.1.1 – Create or Update Asset Record. Subprocess 4.1.1 – Create or Update Asset Record begins with connectors from Business Process 3.1 – Manage Procure to Payment and Business Process 4.3 – Manage Inventory.
The flow continues to Activity 4.1.1.1 – Obtain Asset Information, which has input titled “Ad hoc acquisition of asset.” Activity 4.1.1.1 – Obtain Asset Information results in the output titled “Asset information.” “Asset information” is also an output from three other subprocesses: Subprocess 4.1.4 – Conduct Periodic Analysis of Assets Under Construction, Subprocess 4.1.5 – Conduct Periodic Physical Asset Count and Subprocess 4.1.6 – Conduct Periodic Asset Assessment.
The flow advances to a decision titled “Asset record exists?” The NO flow for “Asset record exists?” continues to Activity 4.1.1.2 – Create Asset Record and then connects to the output titled “Asset record.” The YES flow for “Asset record exists?” continues to Activity 4.1.1.3 – Update Asset Record, which uses the input titled “Amortization amount” from Subprocess 4.1.2 – Calculate Monthly Amortization. Activity 4.1.1.3 – Update Asset Record results in the output titled “Asset record.”
The subprocess ends with connectors to the following five subprocesses:
- Subprocess 4.1.2 – Calculate Monthly Amortization;
- Subprocess 4.1.3 – Undertake Ongoing Asset Repairs and Maintenance, which is identified as outside the scope of the Financial Management business process;
- Subprocess 4.1.4 – Conduct Periodic Analysis of Assets Under Construction;
- Subprocess 4.1.5 – Conduct Periodic Physical Asset Count; and
- Subprocess 4.1.6 – Conduct Periodic Asset Assessment.
One or more of these five subprocesses can be completed concurrently and in any order.