Introducing dynamics into assets
SF PowerAsset provides you with a legally compliant and highly flexible schedule of assets (Anlagenspiegel).
Asset analyses are required for internal reporting throughout the year. Additionally, at the end of every business year, the financial authorities require every company relying on double-entry bookkeeping to provide a clear statement of its assets position. In Austria, this is done by means of the schedule of assets (Anlagenspiegel), in Germany, by the asset history sheet (Anlagengitter).
As a result of the Austrian 2014 Act on Changes in Accounting Practices (RÄG 2014), the requirement was introduced that the schedule of assets has to be included in the notes as well. Also, the format was changed to comply with the custom international format. The most important change is the mandatory reporting of developments in terms of historical acquisition costs and accumulated depreciation at the beginning and end of the financial year. Capitalized borrowing costs also need to be reported separately.
Microsoft Dynamics 365 for Finance and Operations can provide all of the data for complying with these requirements imposed by RÄG 2014. However, the existing standard report provides too little flexibility, particularly when managing and presenting assets. Additional, existing, fully-integrated Microsoft technology could be put to a good use, to develop an efficient, easy-to-use and flexible analysis tool for assets.
SF PowerAsset is a flexible reporting tool based on Microsoft Excel which provides a perfect basis for modern asset management by means of an augmented schedule of assets which is available at any time and at the press of a button.
SF PowerAsset makes it easy for users in the finance department to prepare asset management reports.
- Direct and simple access to all current asset-related entries in Microsoft Excel: Refresh the data in Excel provided via data management from Dynamics 365.
- Time saved by no longer having to update the reporting entries for assets and groups of assets: The report structure is automatically updated by means of the PowerPivot function in Excel.
- Easy data processing in a familiar Excel environment: The report can be adjusted to reflect company-specific requirements and also provides lots of additional information related to assets. For example, assets can also be analyzed by various financial parameters (location, cost center, project, etc.).
- Powerful internal analyses: The data can be filtered by every field displayed and, with the aid of subtotals and groupings, the values of each group of assets can be aggregated. Additional analysis functions, such as data slicers, make it possible to simultaneously display the assets of several clients or value models. One particular highlight is the flexible selection of the analysis periods. This makes it easy to prepare analyses for monthly and quarterly reporting.
- A legally-compliant schedule of assets which can also be used offline: External recipients of reports (tax advisors, auditors, etc.) can be provided with both simplified or detailed versions of the schedule of assets as a report. The Excel report generated even works offline without refreshing the data.
SF PowerAsset is much more than just a perfect analysis for the annual financial statements. It is a valuable tool for financial controlling which can generate reports about the status of assets for various recipients of reports (plant managers, cost center managers, project managers, etc.) at the press of a button. This saves you time in which to analyze the data.
SF PowerAsset is already being used by Microsoft Dynamics 365 for Finance and Operations customers and will soon also be available for Microsoft Dynamics AX 2012.