proceeds and the NBV is treated as a gain/loss on disposal. The Atlas Asset Management System automatically calculates this gain or loss and charges or credits the gain or loss to the Gain/Loss of Disposal GL account using the Chart of Accounts associated with the asset. This ensures that each project or donor receives the full value of the asset even at disposal. The CO or HQ business unit should file all final transaction documents pertaining to a disposal or write-off including details of the final gain or loss posted to the project. Detailed Procedures on the Methods of Disposals, Write Offs and the Respective Thresholds, Consult the POPP Section Flowchart Roles and Responsibilities Responsible Responsibilities Party Maintaining complete and accurate records of Plant, Land and Buildings purchased by their offices; Consulting the CAP regarding disposal of items costing over RR/RC $2,500 and up to DPA, the RACP for items above DPA and up to Head of HQ Unit US$1 million and the ACP for items costing over US$1 million Head of HQ Submitting the bi-annual/or annual physical verification exercise units certification documents to General Operations/BMS by the due date Submitting requests to GSSC through the DMS for all asset transaction except location and custody changes and imputing asset information Asset Focal Approving DMS transaction Point Ensuring all asset information and details in ATLAS asset module Operations is accurate Manager Providing schedules and information for the physical verification exercise
proceeds and the NBV is treated as a gain/loss on disposal. The Atlas Asset Management System automatically calculates this gain or loss and charges or credits the gain or loss to the Gain/Loss of Disposal GL account using the Chart of Accounts associated with the asset. This ensures that each project or donor receives the full value of the asset even at disposal. The CO or HQ business unit should file all final transaction documents pertaining to a disposal or write-off including details of the final gain or loss posted to the project. Detailed Procedures on the Methods of Disposals, Write Offs and the Respective Thresholds, Consult the POPP Section Flowchart Roles and Responsibilities Responsible Party Responsibilities RR/RC Head of HQ Unit Head of HQ units Maintaining complete and accurate records of Plant, Land and Buildings purchased by their offices; Consulting the CAP regarding disposal of items costing over $2,500 and up to DPA, the RACP for items above DPA and up to US$1 million and the ACP for items costing over US$1 million Submitting the bi-annual/or annual physical verification exercise certification documents to General Operations/BMS by the due date Asset Focal Point Operations Manager Submitting requests to GSSC through the DMS for all asset transaction except location and custody changes and imputing asset information Approving DMS transaction Ensuring all asset information and details in ATLAS asset module is accurate Providing schedules and information for the physical verification exercise
Admin%20Service_Asset%20Management_Plant%20and%20Property_Disposal%20and%20Write-Off.docx