Fixed Assets Management

FAM is an accounting process to keep a track on companies Fixed Asset for the purpose of financial accounting ,asset maintenance and theft prevention.

✔FAM aims to track the location, quantity, condition, maintenance and depreciation status of their fixed assets

✔ FAM consists of two activities namely –
✔ Fixed Assets Verification (FAV)

✔ Fixed Assets Register (FAR)

Activities performed under FAV/ FAR

✔Achieve regulatory compliance applicable to the organizationAchieve regulatory compliance applicable to the organization

✔Identification of any ghost assets in the books of accounts

✔Assistance in performing dynamic inventory verification

✔Ensure accurate depreciation calculation for reporting purposes

✔Assistance in movement and disposal of asset in a proper manner

✔Ascertainment of variance between books and physical verification

✔Bar Coding of individual asset tags will significantly reduce the effort necessary for verification of inventories

✔Enables multiple concurrent inventories with centralized reconciliation

✔Ascertain fair value of the fixed assets that may reduce insurance and tax costs

✔Track’s origin and destination of transferred assets. Lists transfer date, acquired values

✔ Middle East expertise lies in FAM and our vast knowledge in this activity helps to provide ready solutions to our elite clientele in all sectors.