1. ASSETS ACCOUNTING 2016 ANNUAL UPDATE General Accounting
BE Assets Management Forum
FAP-ACC-GA

2. Data collection status
BE-RF
IS, LRF, PM : data collection done CS FB
SRF MK
BE-BI : data collection done, only one meeting needed to clarify a few points
BE-CO (front end) : data collection done, ongoing analysis to change methodology
BE-CO (CCC equipment) : no data expected. Julie to work autonomously for additions of the year (BC to look into?)
BE-ICS : data collection done for both Access Control and Fire and Gas Detection. Not confortable with average prices used for valuation of Access Control equipment (no back-up)
29/11/2016
J. Falcon

3. Identified improvementS
Financial information very often mentioned
Increased consideration for PPE register / Questions raised / Identification of missing equipment or in the opposite double counted equipment
Thank you for your cooperation in this exercise so far
29/11/2016
J. Falcon
FAP-ACC-GA

4. Main challenges met so far / Points for discussion
Ongoing update of the raw data  Past picture moving. Accounting restatement constraint.
BE-ICS : clear existing lines and rebuild an existing inventory
BE-CO : idem
In 2017 if items with a past commissioning date are identified as missing in the PPE register, we would use a 2017 depreciation start date and we would have to book an accounting entry from current year expenses to completed assets, however the charge did not happen during the year.
Double counting risk
How can we reduce the workload and benefit as much as we can from INFOR EAM data? Necessity to group in PPE register.
Completed vs Installed : when does the useful life starts ?
“The Standard requires an entity to begin depreciating an item of property, plant and equipment when it is available for use and to continue depreciating it until it is derecognized, even if during that period the item is idle.”
BE-RF : residual values review – nil for all cavities and RF Tuners (radioactive). To be applied to all the sections?
Financial information
29/11/2016
J. Falcon
FAP-ACC-GA