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Fixed Assets Verification

Posted @ May 21, 2019, 10:17 pm under (Fixed Assets Verification)

1. Fixed Assets Verification

Amit Arun & Associates, Chartered Accountants is a consultancy firm with over 24 years of Industry experience having head-office in Delhi and site offices in Greater Noida and Nagpur (Maharashtra).

Our core areas of expertise are Audit, Assurance, Physical verification of inventory of Assets, Fixed Assets Verification, Fixed Assets Management and Consultancy Services. We have also been involved in consultancy and training on Oracle based Back office ERP Solutions for project accounting, fixed assets management, payroll and financial accounting systems. 

We have a niche specialization in Physical verification of assets, building Fixed Assets Register (FAR) where we have successfully executed number of Mega projects. We have conducted comprehensive Physical Verification of Fixed Assets covering states of Delhi, Gurgaon, Noida, Greater Noida, Mumbai, Hydrabad, Gujrat, Rajasthan, UP, Himachal Pradesh, Karnataka (Bangalore), Andhra Pradesh, Bhuvneshvar, Assam, Goa. 

We use state of art software’s for verification of assets using Oracle and SQL RDBMS to manage asset details, generate Bar-codes & verification sheets and capture unique asset Id’s for the assets to be verified.

All this experience has enabled us to build efficient teams across India, brought us around to recognize the operational difficulties faced on ground and designing solutions to ensure overcoming them and better service delivery.

 

2.1 Physical verification and Asset Tagging capabilities and service offerings:

Most of physical verification projects conducted by us include updation of Fixed Assets register, carrying out physical verification at different locations, Asset Tagging, reconciliation of verification results with fixed assets register.

In the course we have developed and procured latest technologies related to bar-code generation, fixed assets software’s, thermal printers, latest polyester/ aluminum tags, Laser and optical scanning with the help of hand held scanners.

We also have detailed literature and tagging activity process details with pictures to train our team, especially for complex BTS equipments used by telecom companies.

 

2.2 Data Compilation, Segregation, Codification, Verification and Tagging methodology:

  1. Towards execution of the assignment our team will conduct physical counting of all tangible assets along with a resource provided by the client to identify sub location of assets and prepare excel based FAR summary sheets of the data so collected.

2.3 Reporting methodology:

During the course of verification excel reports are shared on verification findings and discrepancies are discussed with the responsible departments before submission of final report. Final report consists of summation of all the individual reports, recommendations, reconciliations, snap shots, compliances with Companies practices and expectations, as well as other parameters as discussed

2.4 Resource base related to asset physical verification and tagging

Apart from the team of chartered accountants in our main offices in Delhi we have a network of trained manpower available for the physical verification, tagging and reconciliation activity having wide exposure and experience of PV in diversified sectors.

 


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