Conquest contains the functionality to value Assets according to Accrual Accounting methods. Here is an overview of the principles and processes, which must be followed to do this.
The objective of Conquest Asset Valuation is to be able to know the valuation status of any Asset at any point in time, as well as the valuation movements over time, leading to that status.
There are a number of key valuation elements that Conquest uses to determine valuation status. Database column names that store a key valuation element are red and shown in parentheses.
The Valuation Elements are:
•Last valuation (Value)
•Additions since last the valuation (AccumCapitalWorks), referred to as ACW (Accumulated Capital Works value)
•Accumulated depreciation (AccumDepreciation)
•Asset valuation status date or date of last transaction (LastTranDate)
•Residual Value is the predicted value of an Asset (ResVal), when it reaches the end of its life. The Asset Depreciation applies until it reaches this value, at which point it is fully depreciated.