KY - Chartered Accountants

FA / Inventory Verification Services

Tracking fixed assets is an important concern of every company, regardless of size. Fixed assets are defined as any ‘permanent’ object that a business uses internally including but not limited to computers, tools, software, or office equipment.

Our FAR Creation includes services such as Fixed Asset Audit and Fixed Asset Reconciliation. Every business needs to ensure regular Fixed Asset Reconciliation for the purpose of tracking and asset inventory management. Asset Audit is an integral part of asset management and is carried out regularly as fixed asset reconciliation services.

Scope of Work includes:

Comprehensive and complete physical verification exercise of all fixed assets;
Physical identification and labelling of the assets with special bar coded labels;
Matching of the output of the verification exercise with existing records;
Linking the asset values in the existing records and the assets tagged at each location is carried out.

Benefits of Tagging Assets

Identify owned assets quickly and easily with visual inspection;
Simplify inventory with bar code imprinting of property ID asset tags;
Reduction of theft with visual identification of assets with security labels;
Monitor asset movement between locations;
Compliance with insurance or government regulations;
Track useful life of assets and depreciation schedules;
Schedule maintenance, service and replacement of owned assets;
Identification of deficiency in inventories and fixing the responsibility of the staff.

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