Guideline on Common Financial Management Business Process 4.1 - Manage Other Capital Assets
Long description for image: Figure 8: Periodic Asset Assessment (Subprocess 4.1.6) – 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 4.1.6 – Conduct Periodic Asset Assessment, which begins with a connector from Subprocess 4.1.1 – Create or Update Asset Record and its output titled “Asset record.” The flow continues to Activity 4.1.6.1 – Compile Asset Listing, which results in the output titled “Asset listing.”
The flow continues to Activity 4.1.6.2 – Conduct Asset Assessment. Activity 4.1.6.2 – Conduct Asset Assessment has two other inputs:
- The first is “Approved investment plan and budget,” which flows from a connector from Business Process 1.1 – Manage Planning and Budgeting; and
- The second is “Asset count results,” which flows from a connector for Subprocess 4.1.5 – Conduct Periodic Physical Asset Count.
The flow continues to Activity 4.1.6.3 – Validate Findings, which results in the output titled “Asset assessment results.” “Asset assessment results” flows to a connector for Business Process 1.1 – Manage Planning and Budgeting.
The flow from “Asset count results” also advances to a decision titled “Action required?” The NO flow for “Action required?” continues to the following four connectors and one activity:
- Connector for Subprocess 4.1.2 – Calculate Monthly Amortization;
- Connector for Subprocess 4.1.3 – Undertake Ongoing Asset Repairs and Maintenance, which is identified as outside the scope of the Manage Other Capital Assets business process;
- Connector for Subprocess 4.1.4 – Conduct Periodic Analysis of Assets Under Construction;
- Connector for Subprocess 4.1.5 – Conduct Periodic Physical Asset Count; and
- Activity 4.1.6.1 – Compile Asset Listing.
One or more of the four connectors or the activity can be completed concurrently and in any order.
The YES flow for “Action required?” continues to the following three activities:
- Activity 4.1.6.4 – Summarize Required Changes to Asset Record results in the output titled “Asset information,” which flows to a connector for Subprocess 4.1.1 – Create or Update Asset Record.
- Activity 4.1.6.5 – Summarize Impairment Information advances to Activity 4.1.6.6 – Record Journal Entry and to a connector for Business Process 8.2 – Manage Financial Close.
- Activity 4.1.6.6 – Prepare Disposal Information results in the output titled “Disposal information,” which flows to a connector for Subprocess 4.1.7 – Process Asset Disposal.
One or more of the three activities can be completed concurrently and in any order.