1 / 17

Fixed Assets Accounting

Fixed Assets Accounting. http://www.virginia.edu/finance/finanalysis/prop.html. FAA Organization. Gary Young – Director Malika Ouenza – Manager Plant Accounting Angy Seago - Manager ETF & Equipment John Wallace-Smith – Sr. Equipment Specialist

bonita
Télécharger la présentation

Fixed Assets Accounting

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Fixed Assets Accounting http://www.virginia.edu/finance/finanalysis/prop.html

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

  3. Ruby Tues Burger King Home

  4. What is a Fixed Asset ? Am I a FIXED ASSET ?

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

  6. 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)

  7. Fixed Assets Accounting UVA $ 2.2 Billion (Land, Bldgs-500+, Equipment-24,000+, Library Books, Software) Wise $ 95.0 Million Southwest $ 1.0 Million

  8. HOW DO WE COMPARE TO OTHERS ? (In $ Millions FY’06 Data) * Different capital thresholds and useful lives will affect values

  9. 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

  10. FAA Group Responsibilities • Accounting • Oracle Fixed Assets Module • Inventory Audit & Control • Financial Reporting • Sponsor Reporting • Policies & Procedures

  11. 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

More Related