Thankyou to those who assisted in review of the following ISO/TC 251 documents in February 2022 by providing comments.
AMCouncil September Meeting Point e-news is out now, packed with all the latest and greatest AMCouncil happenings and news from the past month, including links to some great technical articles, news, interviews and announcements. Check your inboxes now!
AMCouncil Melbourne members caught up for lunch yesterday and to discuss the value of asset valuations. Rosie Foldvari was first up to talk about asset depreciation for accounting and tax purposes and how to manage the differences that inevitably arise. As part of this Rosie considered how sharing of data between finance teams and asset management teams can ensure more accurate depreciation policies, based on true asset lives, and help finance teams manage the level of granularity required by the Australian Capital Allowances Legislation.
For those local to Brisbane, come along for a field trip with us to Cross River Rail (CRR) this November! AMC Brisbane Chapter is proud to host a visit to Cross River Rail Experience Centre on the 3rd of November 2022 to get an understanding of work that’s being carried out at CRR and talk about the ability of digital engineering initiatives to create efficiencies and embed data-driven decision making within the asset management lifecycle.
ISO/TC251 Asset Management Committee released a resource in August 2022 “Aligning Asset Management and Financial Reporting Approaches”. This article highlights the different definitions of the term “asset” associated with current asset management and financial accounting best practices, and outlines how organizations should be aware of, and can handle those differences using a proposed mapping table approach.