An accounting process to keep track of companies fixed assets for the purpose of financial accounting, asset maintenance and theft prevention.
i. Fixed Assets Verification (FAV)
ii. Maintaining Fixed Assets Register (FAR)
Activities performed under FAV/ FAR:
• Achieving regulatory compliance applicable to the organization
• Assisting in performing dynamic inventory verification& identifying any ghost assets.
• Bar coding of individual asset tags will significantly reduce the effort necessary for verification of inventories
• Enabling multiple concurrent inventories with centralized 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 and physical verification
Listing TRC Corporate Consulting has expertise in FAM. Our vast knowledge in this activity helps providing ready solutions to our elite clientele in all sectors. With our PAN India presence, we aim at providing seamless quality services across India.