ISO/TS 55010

FINAL DRAFT
Technical
Specification
ISO/DTS 55010
ISO/TC 251
Asset management — Guidance
Secretariat: BSI
on the alignment of financial and
Voting begins on:
non-financial functions in asset
2024-02-26
management
Voting terminates on:
2024-04-22
Gestion d'actifs — Orientation sur l'alignement des fonctions
financières et non financières dans la gestion d'actifs
Управление активами — Руководство по обеспечению
согласованности финансовой и нефинансовой
деятельности при управлении активами
RECIPIENTS OF THIS DRAFT ARE INVITED TO SUBMIT,
WITH THEIR COMMENTS, NOTIFICATION OF ANY
RELEVANT PATENT RIGHTS OF WHICH THEY ARE AWARE
AND TO PROVIDE SUPPOR TING DOCUMENTATION.
IN ADDITION TO THEIR EVALUATION AS
BEING ACCEPTABLE FOR INDUSTRIAL, TECHNO­
LOGICAL, COMMERCIAL AND USER PURPOSES, DRAFT
INTERNATIONAL STANDARDS MAY ON OCCASION HAVE
TO BE CONSIDERED IN THE LIGHT OF THEIR POTENTIAL
TO BECOME STAN DARDS TO WHICH REFERENCE MAY BE
MADE IN NATIONAL REGULATIONS.
Reference number
ISO/DTS 55010:2024(en) © ISO 2024

FINAL DRAFT
ISO/DTS 55010:2024(en)
Technical
Specification
ISO/DTS 55010
ISO/TC 251
Asset management — Guidance
Secretariat: BSI
on the alignment of financial and
Voting begins on:
non-financial functions in asset
management
Voting terminates on:
Gestion d'actifs — Orientation sur l'alignement des fonctions
financières et non financières dans la gestion d'actifs
Управление активами — Руководство по обеспечению
согласованности финансовой и нефинансовой
деятельности при управлении активами
RECIPIENTS OF THIS DRAFT ARE INVITED TO SUBMIT,
WITH THEIR COMMENTS, NOTIFICATION OF ANY
RELEVANT PATENT RIGHTS OF WHICH THEY ARE AWARE
AND TO PROVIDE SUPPOR TING DOCUMENTATION.
© ISO 2024
IN ADDITION TO THEIR EVALUATION AS
All rights reserved. Unless otherwise specified, or required in the context of its implementation, no part of this publication may
BEING ACCEPTABLE FOR INDUSTRIAL, TECHNO­
LOGICAL, COMMERCIAL AND USER PURPOSES, DRAFT
be reproduced or utilized otherwise in any form or by any means, electronic or mechanical, including photocopying, or posting on
INTERNATIONAL STANDARDS MAY ON OCCASION HAVE
the internet or an intranet, without prior written permission. Permission can be requested from either ISO at the address below
TO BE CONSIDERED IN THE LIGHT OF THEIR POTENTIAL
or ISO’s member body in the country of the requester.
TO BECOME STAN DARDS TO WHICH REFERENCE MAY BE
MADE IN NATIONAL REGULATIONS.
ISO copyright office
CP 401 • Ch. de Blandonnet 8
CH-1214 Vernier, Geneva
Phone: +41 22 749 01 11
Email: copyright@iso.org
Website: www.iso.org
Published in Switzerland Reference number
ISO/DTS 55010:2024(en) © ISO 2024

ii
ISO/DTS 55010:2024(en)
Contents Page
Foreword .v
Introduction .vi
1 Scope . 1
2 Normative references . 1
3 Terms and definitions . 1
4 Why alignment between financial and non-financial functions is important . 4
4.1 General .4
4.2 Benefits of alignment .6
5 Enablers for alignment . 7
5.1 General .7
5.2 Processes, leadership and governance .7
5.2.1 Processes .7
5.2.2 Leadership.7
5.2.3 Governance .8
5.3 Policy, strategy, data and information .8
5.3.1 Asset management policy support .8
5.3.2 Strategic asset management plan support .8
5.3.3 Data and information .8
5.4 Non-financial functions in asset management .9
5.5 Terminology for financial and non-financial alignment .9
6 How to achieve system alignment . 9
6.1 General .9
6.2 Information systems .10
6.3 Data management .10
7 How to achieve asset-register-related alignment .11
7.1 General .11
7.2 Financial asset registers .11
7.3 Non-financial asset registers . 12
7.4 Asset register alignment. 12
8 Financial planning and reporting for asset management .13
8.1 General . 13
8.2 Capital investment planning . 13
8.3 Long-term financial planning.14
8.4 Budgeting .14
8.5 Financial reporting in asset management . 15
9 Performance management . 16
9.1 General .16
9.2 Performance measurement .16
9.3 Performance reporting .17
Annex A (informative) Guidance on capital investment planning . 19
Annex B (informative) Guidance on long-term financial planning .20
Annex C (informative) External financial reporting standards and principles .24
Annex D (informative) Financial accounting functions for financial reporting .27
Annex E (informative) Asset life cycle activities .33
Annex F (informative) Implementation example — Aligning asset management functions .39
Annex G (informative) Cost input to pricing for product or service .43

iii
ISO/DTS 55010:2024(en)
Annex H (informative) Asset mapping table — Aligning asset management and financial
reporting approaches .44
Annex I (informative) Alignment of asset registers .48
Annex J (informative) IFRS and US GAAP — Differences in accounting requirements in different
countries .56
Bibliography .58

iv
ISO/DTS 55010:2024(en)
Foreword
ISO (the International Organization for Standardization) is a worldwide federation of national standards
bodies (ISO member bodies). The work of preparing International Standards is normally carried out through
ISO technical committees. Each member body interested in a subject for which a technical committee
has been established has the right to be represented on that committee. International organizations,
governmental and non-governmental, in liaison with ISO, also take part in the work. ISO collaborates closely
with the International Electrotechnical Commission (IEC) on all matters of electrotechnical standardization.
The procedures used to develop this document and those intended for its further maintenance are described
in the ISO/IEC Directives, Part 1. In particular, the different approval criteria needed for the different types
of ISO document should be noted. This document was drafted in accordance with the editorial rules of the
ISO/IEC Directives, Part 2 (see www.iso.org/directives).
ISO draws attention to the possibility that the implementation of this document may involve the use of (a)
patent(s). ISO takes no position concerning the evidence, validity or applicability of any claimed patent
rights in respect thereof. As of the date of publication of this document, ISO had not received notice of (a)
patent(s) which may be required to implement this document. However, implementers are cautioned that
this may not represent the latest information, which may be obtained from the patent database available at
www.iso.org/patents. ISO shall not be held responsible for identifying any or all such patent rights.
Any trade name used in this document is information given for the convenience of users and does not
constitute an endorsement.
For an explanation of the volun
...

TC
Date:  2023-05-11
TC /WG ISO/DTS 55010
ISO/TC 251
Secretariat: BSI
Date: 2024-02-09
Asset management — Guidance on the alignment of financial and
non-financial functions in asset management
Gestion d'actifs — Orientation sur l'alignement des fonctions financières et non financières dans la gestion
d'actifs
Управление активами — Руководство по обеспечению согласованности финансовой и нефинансовой
деятельности при управлении активами
GGeenneerraall
TThhiis s iis s aa ppeerrssoonnaall wwoorrkk ccooppy y wwiitthh aa ssiinnggllee uuseserr lliicecennsese wwhhiicchh mmaay y oonnllyy bbee ususeedd foforr iintnteerrnnaall wwoorrk k wwiitthhiin n TTKK. TTaakkeenn oouutt bbyy
jjoohhaann.ppaauullssossonn@te@tetrtraappaakk.cocomm. CoCoppyyiinngg oror ddiissessemmiinnaattiioonn ofof tthehe ccoontnteentnt ofof tthehe ssttananddarardd oouuttssiiddee TKTK iiss nonott aalllolowweedd ((sseeee SSIISS
ccooppyyrriigghhtt rurulleses onon sisis.s.ssee)). DDowownnlloaoadd ddaattee:: 20212021--0808--10.10.
ISO/DTS 55010:(en)
All rights reserved. Unless otherwise specified, or required in the context of its implementation, no part of this publication
may be reproduced or utilized otherwise in any form or by any means, electronic or mechanical, including photocopying,
or posting on the internet or an intranet, without prior written permission. Permission can be requested from either ISO
at the address below or ISO’s member body in the country of the requester.
ISO copyright office
CP 401 • Ch. de Blandonnet 8
CH-1214 Vernier, Geneva
Phone: + 41 22 749 01 11
E-mail: copyright@iso.org
Website: www.iso.org
Published in Switzerland
ii
ISO/CD TSDTS 55010:(en)
Contents
Foreword . vii
Introduction. ix
1 Scope .1
2 Normative references .1
3 Terms and definitions .1
4 Why alignment between financial and non-financial functions is important .5
4.1 General .5
4.2 Benefits of alignment .7
5 Enablers for alignment .8
5.1 General .8
5.2 Processes, leadership and governance .8
5.2.1 Processes .8
5.2.2 Leadership .8
5.2.3 Governance .9
5.3 Policy, strategy, data and information .9
5.3.1 Asset management policy support .9
5.3.2 Strategic asset management plan support . 10
5.3.3 Data and information . 10
5.4 Non-financial functions in asset management . 10
5.5 Terminology for financial and non-financial alignment . 11
6 How to achieve system alignment . 11
6.1 General . 11
6.2 Information systems . 11
6.3 Data management . 12
7 How to achieve asset-register-related alignment . 12
7.1 General . 12
7.2 Financial asset registers . 13
7.3 Non-financial asset registers . 13
7.4 Asset register alignment . 13
8 Financial planning and reporting for asset management . 14
8.1 General . 14
8.2 Capital investment planning . 14
General
iii© ISO 2018 – All rights reserved 3

TThhiis s iis s aa ppeerrssoonnaall wwoorrkk ccooppy y wwiitthh aa ssiinnggllee uuseserr lliicecennsese wwhhiicchh mmaay y oonnllyy bbee ususeedd foforr iintnteerrnnaall wwoorrk k wwiitthhiin n TTKK. TTaakkeenn oouutt bbyy
jjoohhaann.ppaauullssossonn@te@tetrtraappaakk.cocomm. CoCoppyyiinngg oror ddiissessemmiinnaattiioonn ofof tthehe ccoontnteentnt ofof tthehe ssttananddarardd oouuttssiiddee TKTK iiss nonott aalllolowweedd ((sseeee SSIISS
ccooppyyrriigghhtt rurulleses onon sisis.s.ssee)). DDowownnlloaoadd ddaattee:: 20212021--0808--10.10.
ISO/DTS 55010:(en)
8.3 Long-term financial planning . 16
8.4 Budgeting . 16
8.5 Financial reporting in asset management . 17
9 Performance management . 17
9.1 General . 17
9.2 Performance measurement . 18
9.3 Performance reporting . 19
Annex A (informative) Guidance on capital investment planning . 20
Annex B (informative) Guidance on long-term financial planning . 21
B.1 General . 21
B.2 Long-term financial planning process steps . 24
B.2.1 General . 24
B.2.2 Mobilization phase . 24
B.2.3 Analysis phase . 25
B.2.4 Decision phase . 25
B.2.5 Execution phase . 25
Annex C (informative) External financial reporting standards and principles . 26
C.1 Examples of financial reporting . 26
C.2 External financial reporting principles for assets . 26
C.2.1 General . 26
C.2.2 Fair presentation . 26
C.2.3 Accrual basis for accounting . 27
C.2.4 IFRS valuation rules . 27
C.2.5 Appropriate implementation of auditing principles . 27
Annex D (informative) Financial accounting functions for financial reporting . 29
D.1 General . 29
D.2 Financial asset register . 29
D.3 Valuation/revaluation . 30
D.4 Fair valuation techniques . 32
D.5 Depreciation . 32
D.6 Impairment . 33
D.7 Useful life/remaining useful life . 34
D.8 Residual value . 35
Annex E (informative) Asset life cycle activities .
...