asset schedule corality modeloff worked solution asset schedule
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Style Design Comment
Header 1 Header1
Header 2 Header2
Input 100 A user driven input
Demo 100 Values needed to demonstrate the principle i
Empty_cell A cell that is left intentionally blank to avoid t
Off-Sheet 100 A link to another worksheet to minimise the n
Total The sum of elements above, including sub-to
Unit / Info USD millions Explanatory text showing helpful information
Line Summary 100 The SUM() of everything to the right
Table Header Qtr Header of a table or of an off-sheet reference
Flag 1 Binary flag - set up as conditional formatting
Balance The closing balance of a control account
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a complete model would be dynamically coded or set-up differently
e risk of error
umber of inter-worksheet references (slow and risky)
tals
and the units/dimensions of the calculations
ather than a 'Style'
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Tutorial: Asset Schedule
Inputs
Inputs specific to the answerAsset details
Useable life Yr(s) 12 Yr(s)
Accounting depreciation (SL) % p.a. 8.33%Tax depreciation (DV) % p.a. 40.00%
Profile 2012 2013
Capex US$m 10.00 64.00
Inflation
Forecast % 3.00%
Tax
Year Year 2012 2013
Rate % 30.00% 30.00%
Inputs to support demonstrationTiming
Model start date Date 31-Dec-11
Constants
Days in year Days 365
Months per quarter Months 3
Months per year Months 12
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2014 2015 2016 2017 2018 2019 2020
69.00 99.00 89.00 39.00 34.00 23.00 29.00
2014 2015 2016 2017 2018 2019 2020
30.00% 30.00% 28.00% 28.00% 28.00% 28.00% 28.00%
This inputs page is set up to contain all the keybits of information provided in the question. Weare keeping it separate from the calculations tohelp promote transparency in line withinternationally recognised modeling standards.
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2021 2022 2023 2024 2025 2026 2027
69.00 99.00 89.00 39.00 34.00 23.00 29.00
2021 2022 2023 2024 2025 2026 2027
28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00%
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2028 2029
69.00 99.00
2028 2029
28.00% 28.00%
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Tutorial: Asset Schedule
CalculationsPeriod start
Period end 31-Dec-11
CountersYear YearYear counter #Num
Inflation % 3.00%
AssetsCapex (real) US$m 1,006.00
Capex (nominal) US$m 1,314.44
Accounting depreciationBalance b/f US$m
Capex US$m
Depreciation US$mBalance c/f US$m
Depreciation Year(s)
Periods to include #Num 12
% p.a.
Depreciation US$m 8.33% 831.50
Tax depreciationBalance b/f US$m
Capex US$m
Depreciation US$m
Balance c/f US$m
Depreciation
Depreciation US$m 40.00% 1,148.43
Deferred taxAccounting depreciation US$m
Tax depreciation US$m
Difference US$m
Tax rate % 30.00%
Deferred tax asset / (liability)
Balance b/f US$m
Movement due to tax rate US$m
Temporary differences US$m
Balance c/f US$m
Thethethat
The second challenge is inunderstanding of deferred tcalculate it. The deferred ta balance sheet is the resuldifferences, most easily sethe accounting and tax trea
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QuestionsQuestion 1
Start year Year 2012
End year Year 2021
Include? [1,0]Total nominal capex US$m 598.33
Answer: Selection B
Question 2
Target year Year 2017
Closing balance US$m 298.31
Answer: Selection A
Question 3
Target year Year 2019
Closing balance US$m 68.18
Answer: Selection D
Question 4
Difference US$m 2.19
Answer: Selection A
Question 5Target year Year 2028
Closing balance US$m (79.03)
(Note - a negative balance is a liability)
Answer: Selection B
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1-Jan-12 1-Jan-13 1-Jan-14 1-Jan-15 1-Jan-16 1-Jan-17 1-Jan-18 1-Jan-19
31-Dec-12 31-Dec-13 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19
2012 2013 2014 2015 2016 2017 2018 20191 2 3 4 5 6 7 8
1.00 1.03 1.06 1.09 1.13 1.16 1.19 1.23
10.00 64.00 69.00 99.00 89.00 39.00 34.00 23.00
10.00 65.92 73.20 108.18 100.17 45.21 40.60 28.29
- 9.17 68.76 129.54 216.27 286.65 298.31 301.97
10.00 65.92 73.20 108.18 100.17 45.21 40.60 28.29
(0.83) (6.33) (12.43) (21.44) (29.79) (33.56) (36.94) (39.30)9.17 68.76 129.54 216.27 286.65 298.31 301.97 290.96
1 2 3 4 5 6 7 8
0.83 6.33 12.43 21.44 29.79 33.56 36.94 39.30
- 6.00 43.15 69.81 106.80 124.18 101.63 85.34
10.00 65.92 73.20 108.18 100.17 45.21 40.60 28.29
(4.00) (28.77) (46.54) (71.20) (82.79) (67.76) (56.89) (45.45)
6.00 43.15 69.81 106.80 124.18 101.63 85.34 68.18
4.00 28.77 46.54 71.20 82.79 67.76 56.89 45.45
0.83 6.33 12.43 21.44 29.79 33.56 36.94 39.30
4.00 28.77 46.54 71.20 82.79 67.76 56.89 45.45
(3.17) (22.44) (34.11) (49.76) (53.00) (34.20) (19.95) (6.15)
30.00% 30.00% 30.00% 30.00% 28.00% 28.00% 28.00% 28.00%
- (0.95) (7.68) (17.92) (32.84) (45.49) (55.07) (60.66)
- - - - 2.19 - - -
(0.95) (6.73) (10.23) (14.93) (14.84) (9.58) (5.59) (1.72)
(0.95) (7.68) (17.92) (32.84) (45.49) (55.07) (60.66) (62.38)
first big challenge in this solution is to getstraight line depreciation calculated in a waydoesn't require a giant table. See the next
testing yourax and how tox asset or liability on
lt of timingn in differences intment of
Once you have tracked the amount of the difference and thin the DTA / DTL, it becomes important to understand howbalance may change due to a change in the tax rate. If the
decreases, we would expect to see a reduction n the size oliability or asset. Here, we see that we initially had a 32.84which was 'reduced' by 2.19m due to the reduction in the ta
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1 1 1 1 1 1 1 110.00 65.92 73.20 108.18 100.17 45.21 40.60 28.29
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1-Jan-20 1-Jan-21 1-Jan-22 1-Jan-23 1-Jan-24 1-Jan-25 1-Jan-26 1-Jan-27
31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25 31-Dec-26 31-Dec-27
2020 2021 2022 2023 2024 2025 2026 20279 10 11 12 13 14 15 16
1.27 1.30 1.34 1.38 1.43 1.47 1.51 1.56
29.00 69.00 99.00 89.00 39.00 34.00 23.00 29.00
36.74 90.03 133.05 123.20 55.60 49.93 34.79 45.18
290.96 285.33 325.50 397.60 449.58 430.17 406.42 370.73
36.74 90.03 133.05 123.20 55.60 49.93 34.79 45.18
(42.36) (49.86) (60.95) (71.21) (75.02) (73.68) (70.48) (65.23)285.33 325.50 397.60 449.58 430.17 406.42 370.73 350.68
9 10 11 12 12 12 12 12
42.36 49.86 60.95 71.21 75.02 73.68 70.48 65.23
68.18 62.95 91.79 134.90 154.86 126.28 105.72 84.31
36.74 90.03 133.05 123.20 55.60 49.93 34.79 45.18
(41.96) (61.19) (89.93) (103.24) (84.19) (70.48) (56.21) (51.80)
62.95 91.79 134.90 154.86 126.28 105.72 84.31 77.69
41.96 61.19 89.93 103.24 84.19 70.48 56.21 51.80
42.36 49.86 60.95 71.21 75.02 73.68 70.48 65.23
41.96 61.19 89.93 103.24 84.19 70.48 56.21 51.80
0.39 (11.33) (28.98) (32.02) (9.17) 3.20 14.28 13.44
28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00%
(62.38) (62.27) (65.44) (73.56) (82.52) (85.09) (84.19) (80.20)
- - - - - - - -
0.11 (3.17) (8.12) (8.97) (2.57) 0.90 4.00 3.76
(62.27) (65.44) (73.56) (82.52) (85.09) (84.19) (80.20) (76.44)
e changethetax rate
f ourm liability,x rate.
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1 1 0 0 0 0 0 036.74 90.03 - - - - - -
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1-Jan-28 1-Jan-29
31-Dec-28 31-Dec-29
2028 202917 18
1.60 1.65
69.00 99.00
110.72 163.63
350.68 395.29
110.72 163.63
(66.11) (75.98)395.29 482.94
12 12
66.11 75.98
77.69 113.05
110.72 163.63
(75.37) (110.67)
113.05 166.01
75.37 110.67
66.11 75.98
75.37 110.67
(9.26) (34.69)
28.00% 28.00%
(76.44) (79.03)
- -
(2.59) (9.71)
(79.03) (88.74)
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Tutorial: Asset Schedule
Depreciation examplePeriod start 1-Jan-12 1-Jan-13 1-Jan-14 1-Jan-15 1-Jan-16 1-Period end 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14 31-Dec-15 31-Dec-16 31-
"Standard" approachYear Year 2012 2013 2014 2015 2016Year counter #Num 1 2 3 4 5
Capex (nominal) US$m 1,314.44 10.00 65.92 73.20 108.18 100.17
Purchases
Purchase in period 1 US$m 10.00 10.00 - - - -
Purchase in period 2 US$m 65.92 - 65.92 - - -
Purchase in period 3 US$m 73.20 - - 73.20 - -
Purchase in period 4 US$m 108.18 - - - 108.18 -
Purchase in period 5 US$m 100.17 - - - - 100.17 Purchase in period 6 US$m 45.21 - - - - -
Purchase in period 7 US$m 40.60 - - - - -
Purchase in period 8 US$m 28.29 - - - - -
Purchase in period 9 US$m 36.74 - - - - -
Purchase in period 10 US$m 90.03 - - - - -
Purchase in period 11 US$m 133.05 - - - - -
Purchase in period 12 US$m 123.20 - - - - -
Purchase in period 13 US$m 55.60 - - - - -
Purchase in period 14 US$m 49.93 - - - - -
Purchase in period 15 US$m 34.79 - - - - -
Purchase in period 16 US$m 45.18 - - - - -
Purchase in period 17 US$m 110.72 - - - - -
Purchase in period 18 US$m 163.63 - - - - -
Total US$m 1,314.44 10.00 65.92 73.20 108.18 100.17
Depreciation Rate
Purchase in period 1 US$m 8.33% 0.83 0.83 0.83 0.83 0.83
Purchase in period 2 US$m - 5.49 5.49 5.49 5.49
Purchase in period 3 US$m - - 6.10 6.10 6.10
Purchase in period 4 US$m - - - 9.01 9.01
Purchase in period 5 US$m - - - - 8.35
Purchase in period 6 US$m - - - - -
Purchase in period 7 US$m - - - - -
Purchase in period 8 US$m - - - - -
Purchase in period 9 US$m - - - - -
Purchase in period 10 US$m - - - - -
Purchase in period 11 US$m - - - - -
Purchase in period 12 US$m - - - - -
Purchase in period 13 US$m - - - - -
Purchase in period 14 US$m - - - - -
Purchase in period 15 US$m - - - - -
Purchase in period 16 US$m - - - - -
Purchase in period 17 US$m - - - - -
Purchase in period 18 US$m - - - - -
Total US$m 831.50 0.83 6.33 12.43 21.44 29.79
"OFFSET" approachCapex (nominal) US$m 1,314.44 10.00 65.92 73.20 108.18 100.17
Depreciation Year(s)
Periods to include #Num 12 1 2 3 4 5% p.a.
Depreciation US$m 8.33% 831.50 0.83 6.33 12.43 21.44 29.79
A typiout pulines,
This approach still requires sommodelling to stop the account odepreciating using MIN() and S
This first row is a counter of how manyperiods retrospectively to include in theSUM(). When depreicating an item over years then in any given period we will oninclude items paid within the previous 12years. Hence the cap of 12.
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