Assets

There are three sheets that can be inserted and analysed. These sheets are the

Detailed asset analysis

,

Asset allowance analysis

and

Asset disposals analysis sheets

.

The

Detailed asset analysis

sheet can be inserted once the

Asset summary sheet

has been inserted. The asset categories can be added in the Asset Summary Sheet by inserting columns and naming them as per the asset categories from the asset register. These categories will then appear in the

Asset Category

dropdown box in the Detailed asset analysis sheet. The total of the closing balance column will roll forward as a balance check total in the opening balance column for the next year and the details must be completed in this column to balance it. You can manually add data or import data into this sheet. Once this sheet is completed the details per asset category will be summarized and added to the asset summary sheet and then summarized and added to the asset sheet.

The

Asset allowance analysis sheet

contains the tax data for assets. Please ensure when completing the data on this sheet the correct tax allowance category must be selected from the

Tax Allowance

column. The correct allowance amounts will appear on the correct disclosure lines in the

Adjustment of profit (A)

sheet. The data from the Asset allowance analysis sheet will be summarised and displayed in the Asset allowances sheet per tax allowance category.

The

Asset disposals

sheet is used to disclose all assets that are disposed. The data in this sheet is shown per tax allowance category. An

Asset disposals analysis

sheet can be created for each tax allowance category by clicking on a category line and inserting an Asset disposals analysis. The data can now be disclosed on these analysis sheets which will calculate the recoupment and scrapping allowances as well as the capital profit and loss and this will be shown on the correct disclosure lines in the Adjustment of profit (A) sheet.

For deferred tax, lines that have been linked to the

Tax basis balance sheet (I3)

will pull through from the relevant asset schedules. Any amounts entered in the

Permanent

and

Temporary adjustment

columns for the asset lines in the Adjustment of profit (A) sheet will then be used to calculate deferred tax, on the

Reconciling items (I6)

schedule.

Balance checks should be balanced once all asset sheets (the

Detailed asset analysis

,

Asset allowance analysis

and

Asset disposals analysis

) are completed.