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Tangible Capital Assets (TCAs), for the purpose of this report refers to the accounting practices recommended for all Canadian Municipalities as of January 2009. This new approach to accounting was originally proposed by the Canadian Institute of Chartered Accountants in 2007. It has been mandated via the Public Services Accounting Board (PSAB) 3150.
The purpose of this report is to document specific changes in recordkeeping practices that will be required for a municipality that has fully implemented TCA accounting practices. The changes in recordkeeping will occur in the following areas:
We will assume that all municipalities should/will incorporate these recordkeeping changes, even if they have not yet fully adopted TCA accounting methods, as we assume they will eventually be adopting TCA.
We are assuming that TCA accounting practices are to be applied to a system for managing electronic records. For the purpose of this report, we will assume a modern EDRMS (Electronic Document & Records Management System) will be deployed for recordkeeping. We will further assume that the EDRMS will be RBR (Rules-Based Recordkeeping) capable. This report is agnostic to EDRMS brand or style, but we will use SharePoint as an assumed ECM (Enterprise Content Management) platform, with some recordkeeping add-in technology in place.