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 4: Create or Update Asset Record (Subprocess 4.1.1) – Level 3 Process Flow

The figure is a process flow diagram comprising activities, connectors, inputs, outputs, gateways and decisions.

This diagram depicts the Level 3 process flow for Subprocess 4.1.1 – Create or Update Asset Record. Subprocess 4.1.1 – Create or Update Asset Record begins with connectors from Business Process 3.1 – Manage Procure to Payment and Business Process 4.3 – Manage Inventory.

The flow continues to Activity 4.1.1.1 – Obtain Asset Information, which has input titled “Ad hoc acquisition of asset.” Activity 4.1.1.1 – Obtain Asset Information results in the output titled “Asset information.” “Asset information” is also an output from three other subprocesses: Subprocess 4.1.4 – Conduct Periodic Analysis of Assets Under Construction, Subprocess 4.1.5 – Conduct Periodic Physical Asset Count and Subprocess 4.1.6 – Conduct Periodic Asset Assessment.

The flow advances to a decision titled “Asset record exists?” The NO flow for “Asset record exists?” continues to Activity 4.1.1.2 – Create Asset Record and then connects to the output titled “Asset record.” The YES flow for “Asset record exists?” continues to Activity 4.1.1.3 – Update Asset Record, which uses the input titled “Amortization amount” from Subprocess 4.1.2 – Calculate Monthly Amortization. Activity 4.1.1.3 – Update Asset Record results in the output titled “Asset record.”

The subprocess ends with connectors to the following five subprocesses:

  • Subprocess 4.1.2 – Calculate Monthly Amortization;
  • Subprocess 4.1.3 – Undertake Ongoing Asset Repairs and Maintenance, which is identified as outside the scope of the Financial Management business process;
  • Subprocess 4.1.4 – Conduct Periodic Analysis of Assets Under Construction;
  • Subprocess 4.1.5 – Conduct Periodic Physical Asset Count; and
  • Subprocess 4.1.6 – Conduct Periodic Asset Assessment.

One or more of these five subprocesses can be completed concurrently and in any order.

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