Fixed Assets are important to business as they are used use to derive income, meet debt, retain customers/clients and grow wealth. Fixed assets include tangible assets like land, buildings, machines, office equipment and furnishings and intangible assets like softwares, patents etc, and effective and efficient fixed asset management is essential to contribute to the ongoing success of any business.
Fixed Asset Management is crucial to an organisation to have an efficient control over its fixed assets. Fixed Asset Register is a tool to regulate an organisations fixed assets in absence of which it is very difficult to keep effective control over fixed assets. Luthra Luthra provides complete solution to clients in respect of fixed assets management which include:
- Preparation / Updation of FA Register and review of capitalization as per the provisions of Accounting Standards issued by ICAI.
- Asset Verification (Physical verification) and Tagging Services
- Reconciliation of FA Register with the physical verification results.
- Compilation of Assets abandoned /discarded and/or Obsolete assets
- Compliance Repository Maintenance
- Fixed Assets Audit
- Depreciation Calculation and Accounting