How are your teams structured to support Fixed Assets, Project Accounting and Lease Accounting? I am defining a Global COE and wondering if anyone would be willing to share how you are organized and what is part of your "service catalog".
Founder & Managing Director in Services (non-Government), 2 - 10 employees
We have different teams taking care of different sections of accounting. One takes care of fixed accounting, asset management depreciation of assets and purchaseThe other team takes care of lease related projects,
Checking internal projects.
New projects and requirements related to new projects
Director of Finance in Consumer Goods, 10,001+ employees
We use a third party systems to manage above, see costar and deploy at your organization.Content you might like
Slow hiring overall41%
Freeze hiring for certain roles41%
Lay off employees25%
Cut benefits33%
Furlough employees16%
Rescind offers made to candidates25%
Not sure0%
We will not take cost savings actions0%
Other (comment below!)0%
5 PARTICIPANTS
CTO in Software, 201 - 500 employees
Without a doubt - Technical Debt! It's a ball and chain that creates an ever increasing drag on any organization, stifles innovation, and prevents transformation.Community User in Software, 11 - 50 employees
organized a virtual escape room via https://www.puzzlebreak.us/ - even though his team lost it was a fun subtitue for just a "virtual happy hour"
Director of Finance, Self-employed
Yes, we use surveys and interviews to take the temp check. We also evaluate productivity indexes also to make sure we are making the right decisions.I encourage it12%
It doesn't bother me59%
It bothers me, but I accept it18%
It's unacceptable10%
523 PARTICIPANTS
1. Review of all Capital Purchase Requisitions to ensure correct set of Assets in ERP Application (SAP).
2. Review of Assets Under Construction ageing to seek confirmation from Business Unit Capital Coordinators for moving assets to depreciating assets category.
3. Maintaining Global Fixed Assets Register showing both Assets Under Construction and depreciating assets.
4. Accrual for Capital Purchases and depreciation accrual at the end of each period.
5. Review of all Internal Use Software Projects for their amortization accrual and posting as the projects go live.
6. Review of assets disposal requests both for Corporate Assets and Customer Contract Assets on Books for booking Gain / Loss, impairment or acceleration of depreciation as they case may be.
7. Control of Capital Leases and keeping their useful life in line with the Lease Term.
8. Physical Verification of assets as defined the Fixed Assets Policy. The Policy defines High, Medium and Low risk assets and high-risk assets are verified every year. The medium and low-risk assets are verified by rotation so as to ensure 100% coverage of all our 60000+ assets in a cycle of 3 years.