Asyma E3 Conference

1. Management of
Physical Assets To
Handle IFRS
Compliance in Sage
ERP Accpac
Robert Lavery – Robert Lavery & Associates

2. Asset Management supports
IFRS Compliance by:
1. the ability to enter Adjustments to Cost and
Accumulated Depreciation to separate GL
Accounts (part of the Account Sets) so you
have a complete and separate Audit Trail for
any and all adjustments for Fixed Asset
valuations which is one of the primary
requirements for IFRS.
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3. Asset Management supports
IFRS Compliance by:
2. You also have the ability to enter Adjustment
Entries (for single assets or in Bulk for a
range of assets) for Book and Tax Values and
to change the Depreciation Method, Rate and
Useful Life at any time and have this
transaction become part of the historical
audit trail for the asset. This helps you adjust
cost values to market values if that is how
you wish to value and report on assets for
IFRS.
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4. Asset Management supports
IFRS Compliance by:
3. You can also hold additional values for Assets
if you wish to see the changes between
Historical Cost and Adjusted Values for IFRS
reporting through the “Optional Amount”
field in the Asset Register on the Misc page.
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5. Asset Management supports
IFRS Compliance by:
4. You could also create additional Depreciation
Methods for changes in policies and/or run
the Depreciation Projection to do sensitivity
analysis on the effect of changes in
Depreciation Policies due to IFRS on your
Depreciation Expense.
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6. Asset Management supports
IFRS Compliance by:
5. The Master Assets function allows you to
group “component” assets together under 1
Asset ID number but treat each asset
uniquely for accounting purposes so they
have their own depreciation method, rate and
life. The componentization of assets is a key
requirement of IFRS tracking and reporting
on Fixed Assets.
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7. Asset Management supports
IFRS Compliance by:
6. Norming Asset Accounting allows you to track
assets by Category, Group, Location and
Cost Centre so there are a number of ways to
sort and select assets for reporting purposes.
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8. Core Message – Norming Fixed Assets
So as you can see, Norming Asset Management provides
for lots of flexibility on how to set up and manage your
Fixed Assets for IFRS reporting.
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