EXTRA ATOM connects field verification with IFRS asset accounting. Verify what you own with Coretrack, then let IFRS asset accounting calculate depreciation, impairment and adjustments — for asset managers, valuers, libraries and finance teams on one platform.
Operational tracking, library collections and financial reporting share the same asset register — so what's verified in the field is exactly what's reported in the books.
The operational register. Capture, barcode, photograph and verify every asset in the field, then keep the data clean with configurable mandatory fields, exception tracking and live progress stats.
The financial engine. Upload a fixed asset register, pick the IFRS services you need, and the platform performs the depreciation, impairment and adjustment calculations — returning audit-ready Excel.
A dedicated edition for public and institutional libraries. Books and periodicals are verified shelf by shelf, with bibliographic detail, language and issue frequency kept on every record.
Run verification campaigns across sites with a team of capturers, watch progress update in real time, and close the gaps before year-end.
Load an existing register from a template. Duplicate barcodes and missing lookup values are caught in staging before anything is committed.
Scan barcodes with a phone camera, confirm existence, capture condition and attach photos as evidence.
Completion by location, verifications per person, cumulative progress and assets outstanding — by day, week or month.
Missing mandatory information and status or verification anomalies are flagged by severity and exported for follow-up.
Condition captured on site isn't just a note — it becomes an input to impairment and useful-life reviews, with the workings to back it up.
Standard grades from Very Good to Scrap, recorded per asset alongside photos, verifier and verification date.
Opt in to feed mobile verification condition data directly into impairment and useful-life assessments.
Reassess remaining useful life and residual value; depreciation is recomputed prospectively as a change in estimate.
Recoverable amount, impairment loss allocation and before/after impact are set out in working papers for sign-off.
Built with library staff: collections, periodicals and their issue frequencies are managed as assets, so a library's holdings are reported with the same rigour as any other asset class.
Separate verification flows for collection items and periodicals, each with their own reports.
Bibliographic detail, language, item type, frequency, condition and location — configured per tenant.
Every change is recorded, with barcode-change, new-asset and unverified-item reports ready for auditors.
Export the register in a format aligned to public-sector GRAP reporting requirements.
Every run produces the same structured workbook, on your letterhead, with an Import ID that traces each figure back to the file it came from.
Straight-line, month-based depreciation per IAS 16.53 — (carrying amount − residual value) ÷ remaining useful life.
Dr/Cr journals grouped by asset class; choose to post the adjustment only or the full revised depreciation.
Reconciliations and class and grand totals that tie the revised register back to the source.
A by-class movement schedule with an IFRS-referenced note, ready for the annual financial statements.
Upload your fixed asset register, choose the services you need, and receive audit-ready workings. Each service runs independently — together they produce a fully compliant register.
Revise remaining useful life and recompute depreciation prospectively.
Reassess residual values; carrying value never falls below the new residual.
Recoverable amount as the higher of fair value less costs and value in use.
Losses allocated goodwill-first, then pro-rata across the unit.
Reverse prior impairment, capped at the carrying amount had none been recognised.
Split significant components and depreciate each over its own life.
Capitalise WIP into assets or components and begin depreciation.
Net grants against asset cost and recompute depreciation on the reduced amount.
Retrospective restatement with the reserves vs current-year split.
Existence and condition from the field, feeding impairment and life reviews.
Straight-line, month-based depreciation as applied under IAS 16.
Import your existing register, or start capturing from scratch.
Barcode, photograph and grade assets in the field.
Resolve exceptions and missing data before year-end.
Run the IFRS services you need against the verified register.
Hand auditors a complete, traceable workbook.
EXTRA ATOM is a South African software company building cloud platforms for organisations that need to account for what they own. We started with asset tracking and verification and have grown into a connected suite that carries an asset from its first barcode scan all the way to the journals and disclosure notes in the annual financial statements.
See Coretrack and IFRS asset accounting working on your own data.
Tell us a little about your register — asset count, sites, or the IFRS services you need — and we'll get back to you as soon as possible.
Wedgefield Office Park, Regus Building, 17 Muswell Road South, Bryanston, 2021