Fixed Assets Management

Fixed Assets management
An accounting process to keep track of companies fixed assets for the purpose of financial accounting, asset maintenance and theft prevention. FAM entails: i. Fixed Assets Verification (FAV) ii. Maintaining Fixed Assets Register (FAR) Activities performed under FAV/ FAR
• Achieving regulatory compliance applicable to the organization
• Assisting in performing dynamic inventory verification& identifying any ghost assets.
• Bar coding of individual asset tags will significantly reduce the effort necessary for verification of inventories
• Enabling multiple concurrent inventories with centralized reconciliation
• Ascertaining fair value of the fixed assets that may reduce insurance/ tax costs by ensuring accurate depreciation calculation/ valuation.
• Tracking movement and disposal of the assets in a proper manner.
• Ascertaining variance between books and physical verification