Guideline on Common Financial Management Business Process 4.1 - Manage Other Capital Assets

This guideline presents the should be model for Manage Other Capital Assets, which involves financial management during the life cycle of a capital asset (excluding real property) that is managed by a department.
Date modified: 2013-01-15
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Long description for image: Figure 10: Level 1 Business Process of Financial Management

This figure depicts the Level 1 process flow for common financial management business processes, using six chevrons placed in three layers.

The top layer is a chevron labelled Planning, Budgeting and Forecasting Results and Performance Reports.

The centre layer is a row of four chevrons, each representing subsequent steps of the high-level financial management business process. The four steps are Need Identification; Obligation; Performance, Validation and Certification; and Payment. These four steps are further explained in two views—one from the Revenue perspective, the other from the Expenditure perspective.

From the Revenue perspective:

  • Need Identification is indicated by the Request;
  • Obligation is the Recognition of the Obligation;
  • Performance, Validation and Certification is indicated by the Invoice; and
  • Payment is indicated by the Deposit.

From the Expenditure perspective:

  • Need Identification is indicated by Expenditure Initiation;
  • Obligation is the Recognition of the Obligation;
  • Performance, Validation and Certification is indicated by Section 34 of the Financial Administration Act; and
  • Payment is indicated by Section 33 of the Financial Administration Act.

The bottom layer is a chevron labelled Master Data, Integration, Control and Monitoring.

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