Component Accounting for Housing Associations

Keeping housing associations compliant with fixed asset software and component accounting data preparation

With more and more housing associations facing up to the enormity of the challenge of meeting the latest SORP requirements, from the implications of component accounting on depreciation to the new data and reporting processes required, Real Asset Management's fixed asset software and services are providing a growing number of RSL's with the confidence and peace of mind of complying with the latest regulations.

With over 80 housing associations utilising the Series4000 range of fixed asset solutions, RAM has gained an in-depth knowledge of the issues and challenges facing this sector and has developed the relevant industry specific functionality to meet them.

Benefits

• Comply with SORP 2010 by holding multiple 'child assets at component level'.
• Link component and grant records to the building asset using parent/child associations.
• Effectively manage 'staircasing' and batch component disposals.
• Import capital improvement records which are automatically appended to parent assets.
• Produce standard and user definable reports to make statutory disclosures.
• Produce a comprehensive user audit trail.
• Export reports to spreadsheets and post journals to the GL automatically.
• Utilise the tried and tested implementation service provided by RAM, including its component accounting data preparation service which transforms the speed and cost of SORP 2010 and IFRS compliance for housing associations.