Best Practice Guides

Minimize

 

Document Brief Summary Download Size
Practise Guide - Financial Statement Preparation This Better Practice Guide (Guide) is intended to assist Public Sector entities to meet their financial accountability responsibilities in the preparation of quality financial statements in compliance with relevant legislative requirements and the applicable financial reporting framework - International Financial Reporting Standards (IFRS).

Practise Guide - Financial Statement Preparation PDF

          

 488KB
Practise Guide - Fix Asset Management

This Better Practice Guide (Guide) is intended to assist Public Sector managers responsible for decisions relating to acquiring, owning, operating and using major assets, such as buildings, vehicles, and heavy-duty plant. The guide also assists in decision-making when multiple items of equipment of more portable items such as IT equipment, photocopy machines and the like are under consideration.
The purpose of this Guide is primarily to raise awareness of the need to:

  • Differentiate fixed asset acquisition from other recurring expenditure
  • Record all fixed assets in a properly maintained fixed asset register
  • Maintain proper internal controls over fixed assets
  • Regular reconciliation of the fixed asset register to the physical assets and the general ledger
  • Consider future costs associated with asset acquisition, including maintenance, operational and energy costs associated with the on-going use of assets.
Practise Guide - Fix Asset Management PDF  276KB
    

Last updated: 21 November 2017