Fixed Assets Management

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 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.

Still Confused About Our Features? Get A Consultation

We will assign a dedicated and qualified team to your entity, who will assist you in ensuring statutory compliance and providing necessary management reports.