Presentation is loading. Please wait.

Presentation is loading. Please wait.

Published byOwen Jordan Modified over 9 years ago

Similar presentations

Presentation on theme: ""— Presentation transcript:

1

2 http://www.virginia.edu/finance/finanalysis/prop.html

3 Gary Young – Director Malika Ouenza – Manager Plant Accounting Angy Seago - Manager ETF & Equipment John Wallace-Smith – Sr. Equipment Specialist Michael Williams - Inventory Specialist

4 Home Burger King Ruby Tues

5 Am I a FIXED ASSET ?

6 Example of a Fixed Asset Software Buildings Vehicles Library Books Equipment Infrastructure Fabricated Equipment

7 Definition of a Fixed Asset  Buildings, Land, Improvements, Leasehold Imp. or Infrastructure with UVA minimum threshold cost $250,000 and useful life greater than 1 year  Equipment and Vehicles with UVA minimum of $5,000 unit cost and useful life greater than 1 year  Major software applications with UVA threshold cost of $100,000 and useful life greater than 1 year  Library Books (exception – total aggregate of all library books significant and life greater than 1 year)  ETF Equipment (exception – Virginia’s SCHEV has lower threshold cost of $500)

8 UVA $ 2.2 Billion (Land, Bldgs-500+, Equipment-24,000+, Library Books, Software) Wise $ 95.0 Million Southwest $ 1.0 Million

9 ASSETS UVA FLORIDA NC (Chapel) STANFORDHARVARD Current 783 147 913 751 643 Fixed –Net Assets 1,643 1,300 1,874 2,546 4,087 Investments 2,981 607 1,605 17,525 39,086 Other 53 103 84 986 526 5,460 2,157 4,476 21,808 44,342 HOW DO WE COMPARE TO OTHERS ? (In $ Millions FY’06 Data) * Different capital thresholds and useful lives will affect values

10

11

12

13

14

15

16 Breakdown of $2.2B  Buildings$ 1.1  Equipment.3  Infrastructure.2  Construction in Progress.2  Imp. Other than Bldg.1  Software.1  Library Books.1  Land.1

17 FAA Group Responsibilities  Accounting  Oracle Fixed Assets Module  Inventory Audit & Control  Financial Reporting  Sponsor Reporting  Policies & Procedures

18 IMPORTANT ISSUES  ETF Equipment  Coding Expenditures correctly  Cost transfers  Policy change – Releasing equipment to other universities  Policy change – Surplusing data sensitive equipment  Fabrications – equipment title must be UVA  Asset Impairments

Download ppt ""

Similar presentations

By Marla Williams, CPPM President, Integrated Asset Management, Inc. Executive Vice President, Federal Center Chapter.

By Marla Williams, CPPM President, Integrated Asset Management, Inc. Executive Vice President, Federal Center Chapter.
World Meteorological Organization Working together in weather, climate and water IPSAS Implementation Congress www.wmo.int WMO.

World Meteorological Organization Working together in weather, climate and water IPSAS Implementation Congress WMO.
Course Title: Financial Statement Analysis Course Code: MGT-537 Course Instructor: Dr. Hafiz Muhammad Ishaq Total Lectures: 32.

Course Title: Financial Statement Analysis Course Code: MGT-537 Course Instructor: Dr. Hafiz Muhammad Ishaq Total Lectures: 32.
ASU Fixed Assets Departmental Training. Purpose of This Session Requirement of the business process compliance standards Provide Information for new employees.

ASU Fixed Assets Departmental Training. Purpose of This Session Requirement of the business process compliance standards Provide Information for new employees.
FROM CIP TO FIXED ASSET TO DISPOSITION BOOKING A CAPITAL ASSET THROUGH ITS LIFE CYCLE Edward B. Peacock, CPA 214 356 0116

FROM CIP TO FIXED ASSET TO DISPOSITION BOOKING A CAPITAL ASSET THROUGH ITS LIFE CYCLE Edward B. Peacock, CPA
Fixed Assets Policies and Procedures that directly affect Your work, Your budget And your responsibility for protection of WSSU assets as custodian department.

Fixed Assets Policies and Procedures that directly affect Your work, Your budget And your responsibility for protection of WSSU assets as custodian department.
FY2012 PHYSICAL INVENTORY PROCESS AND Q&A SESSIONS Presented by Scott Polk The Office of Procurement’s Fixed Assets Management (FAM)

FY2012 PHYSICAL INVENTORY PROCESS AND Q&A SESSIONS Presented by Scott Polk The Office of Procurement’s Fixed Assets Management (FAM)
CFO Auditing Standards in the 21 st Century By James P. Kearney Performance Management Consulting, Inc. 27 July 2005.

CFO Auditing Standards in the 21 st Century By James P. Kearney Performance Management Consulting, Inc. 27 July 2005.
University of Minnesota Internal/External Sales “Equipment Purchases and Depreciation” Plant Funds, Transfers and other Requirements.

University of Minnesota Internal/External Sales “Equipment Purchases and Depreciation” Plant Funds, Transfers and other Requirements.
Annual Financial Review For the Fiscal Year July 1, 2008 – June 30, 2009.

Annual Financial Review For the Fiscal Year July 1, 2008 – June 30, 2009.
Investment and Saving Chapter 9. Concepts Capital (physical capital) –tools, machines, equipment, buildings and other constructions used as means of production.

Investment and Saving Chapter 9. Concepts Capital (physical capital) –tools, machines, equipment, buildings and other constructions used as means of production.
Fixed Assets Management of Capital Equipment at the University of Virginia.

Fixed Assets Management of Capital Equipment at the University of Virginia.
Fixed Assets Management of Capital Equipment at the University of Virginia.

Fixed Assets Management of Capital Equipment at the University of Virginia.
Slide 13- 1 © The McGraw-Hill Companies, Inc., 2006 Property, Plant, and Equipment; Depreciation and Depletion l At the same time, we also look at:  Gain.

Slide © The McGraw-Hill Companies, Inc., 2006 Property, Plant, and Equipment; Depreciation and Depletion l At the same time, we also look at:  Gain.
Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8th Edition William C. Boynton California Polytechnic State University at.

Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8th Edition William C. Boynton California Polytechnic State University at.
Fixed Assets.

Fixed Assets.
Budgeting and Controlling Operations and Taxes. Control Financial Planning  Operating System Financial Planning  Operating System Steps Steps Set performance.

Budgeting and Controlling Operations and Taxes. Control Financial Planning  Operating System Financial Planning  Operating System Steps Steps Set performance.
McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 4 International Financial Reporting Standards (IFRSs)

McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 4 International Financial Reporting Standards (IFRSs)
Concept of Materiality Session Overview Concept of materiality; Materiality Judgment: Materiality Guidelines; Steps in determining materiality level; and.

Concept of Materiality Session Overview Concept of materiality; Materiality Judgment: Materiality Guidelines; Steps in determining materiality level; and.
CAPITAL ASSETS Presented by CAPITAL ASSETS GROUP Accounting & Financial Reporting.

CAPITAL ASSETS Presented by CAPITAL ASSETS GROUP Accounting & Financial Reporting.

Similar presentations

Ads by Google