Updating of a fixed capital
General Accounting will review as part of the fiscal year close any items that are marked as disposed by Duff and Phelps or in the Fixed Asset Confirmation Tool and write them off in the fixed asset system for FY 2017.
General Accounting will also update the fixed asset system during FY 2018 with the final report from Duff and Phelps to ensure that next year's confirmation process is as accurate as possible.
For example, invert an exchange rate by using formula 1/a, where “a” refers to the first FRED data series added to this line.
Or calculate the spread between 2 interest rates, a and b, by using the formula a - b.
The Fixed Asset Confirmation Tool is currently available in the same application as the Journal Entry Workflow.
In May 2017, we have refreshed the data on the Fixed Asset Confirmation Tool based on the over 3600 confirmation received for FY 2016.
For FY 2017, we have engaged Duff and Phelps to conduct a physical equipment inventory of 12 University locations during the months of May and June 2017 for our Facilities and Administrative rate proposal.
Duff and Phelps will be retagging any assets that they find with a new bar code tag.
Fixed capital does not include materials used in the actual composition of the good being produced.
Investments in fixed capital include the addition of new tools and equipment, as well as real estate need to create and house the goods being produced.
The construction industry held an estimated 9.2% and manufacturing held 5.9%.