Other Services

Other Services

Fixed Asset Management

An accounting process to keep track of companies fixed assets for the purpose of financial accounting, asset maintenance and theft prevention.

FAM entails are:

  1. Fixed Assets Verification (FAV)
  2. Maintaining Fixed Assets Register (FAR)

Activities performed under FAV/ FAR

  • Achieving regulatory compliance.
  • Inventory verification and identifying any ghost assets.
  • Enabling multiple concurrent inventories with 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 of accounts and physical verification.

Inventory Management

An accounting process to keep track of companies fixed assets for the purpose of financial accounting, asset maintenance and theft prevention.

As the inaccuracies in inventory records can cause erroneous management decisions therefore inventory management plays a crucial role in any entity.

Inventory Management intends to verify the accuracy of inventory records by creating mandatory checkpoints and controls. The process involves assigning the proper carrying value to the inventory, so it can be reflected properly in the company’s financials.

It includes following activities:

  • Physical Verification & Stock taking
  • Surprise Checks to identify the real position of inventory.
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