Slide 1

Slide notes: Among the Assets in our Asset Register, we will always be able to discern some logical Groups.

Slide 2

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In fact, we decide which Groups we will have, and then categorize our Assets into these Groups.

Slide 3

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Of course, we can have many Groups.

Slide 4

Slide notes: Here we can see how the Group fits into the Asset Register organizational chart.

The Fixed Asset Register is managed as a Sub Ledger

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The Asset Register is also a financial Sub Ledger of the General Ledger, and always in harmony and in balance with this structure. As such, each Group of Assets is balanced in a Capital and an Accumulated Depreciation Control Account in the GL. Such Control Accounts should only be used once, i.e. with only 1 Group each.

The Asset Register is fully and automatically integrated and is always in Balance with the GL

Slide notes: By having a Control Account for the Group for Asset Capital, we have an immediate total of Capitalization of Assets in this Group. Likewise for the Accumulated Depreciation, and of course the Net Book Value for the Group is the difference between the balances on these 2 Accounts.

Slide 7

Slide notes: Definition of a Group is straight-forward.

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Slide 14

Slide notes: Each Group has a Group Code, a Name, and of course has a specified Control Account for each of Capital and Accumulated Depreciation. Once a Group has been created, we can only change its Name afterwards, but not the Control Accounts. Every Asset Master is linked to some Group, and can be moved by being re-classified. But the Control Accounts for a Group cannot be changed.

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