Ask Your Mates Open Forum

Asset accounting policies

  • 1.  Asset accounting policies

    Posted 03 September 2015 22:23
    Dear asset mates,

    We've had an asset accounting policy sitting in draft form at Willoughby for a number of years now, and I am in the process of finalising it for Council adoption. The information we already have is pretty good, and a credit to the technical experts within our organisation, but I want to be sure we are covering off all the relevant accounting procedures and assumptions.

    A quick Google search showed up a large number of examples from other Councils that I can draw from in finalising this document, but I'm curious to know from the experts in this forum (particularly those with a financial background): are there any particular examples of Asset Accounting Policies out there that you would hold up as good examples of best practice?

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    Kellie Adlam
    Assets Management Co-ordinator
    Willoughby City Council
    CHATSWOOD NSW
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  • 2.  RE: Asset accounting policies

    Posted 06 September 2015 20:10

    Hi Kellie,

    Queensland Treasury have some excellent resources that you could use as best practice guide; see the link below
    https://www.treasury.qld.gov.au/publications-resources/non-current-asset-policies/

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    David Okunyah
    Asset Analyst
    Campaspe Shire Council
    ECHUCA VIC
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  • 3.  RE: Asset accounting policies

    Posted 16 September 2015 19:38
    Hi Kellie

    I find ours to be fairly straight forward.  https://www.charlessturt.sa.gov.au/webdata/resources/files/Asset_Accounting_Policy.pdf .  It is obviously linked to the Asset Management Policy https://www.charlessturt.sa.gov.au/webdata/resources/files/Asset_Management_Policy.pdf

    Cheers

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    Reece Harrison
    Coordinator Asset Management
    City of Charles Sturt
    WOODVILLE SAau
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