Types of Assets

The types of assets and inventory data that can be valued and stored using Asset Valuer Pro are limitless and include everything from Buildings through to roads, water, sewerage, marine, park and other infrastructure.

 

Typical examples include :-

 

  • Land

  • Buildings

  • Roads

  • Footpaths

  • Drainage

  • Kerb

  • Traffic Signals

  • Lighting

  • Water pipes

  • Water civil and treatment plants

  • Sewerage pipes

  • Sewerage civil and treatment plants

  • Marine assets

  • Parks and recreational assets

All assets can be componentised as desired and each component can be further split into the short-life part * (renewal part) and

long-life part * (recyclable part) to fully comply with depreciation expense requirements.

The Asset Hierarchy is 100% flexible. Entities can choose to work from a template, amend the template as desired or build their own Asset Hierarchy from scratch to ensure total consistency with their Asset Management or Financial Reporting systems.

* Short-life and long-life parts are terms covered by the Australian Accounting Standards Board's May 2015 Residual Value decision which deals with the requirements of the standards to 'depreciate separately the parts of the asset that have a different useful life'. The decision highlighted that where assets have components which undergo regular renewal and the cost of the renewal is less than the cost of the component that the component consists of different parts with different useful life and therefore each need to be depreciated separately. This requirement is consistent with IFRS and IPSAS standards.

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