by Verasset | Jan 28, 2022 | Asset Life Cycle, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Uncategorized
Annual auditing of financial statements offers financial transparency and accountability for nonprofit organizations. While not all nonprofit organizations are required to conduct an independent financial audit, many are. Those that are not should still strongly...
by Verasset | Jan 7, 2015 | Asset Life Cycle, Asset Recovery, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Latest News, Physical Inventory
There are many reasons to periodically conduct a physical inventory of assets. One often overlooked benefit is the potential for asset recovery. Asset recovery often leads to identification of idle assets. Idle assets not only cost money, but represent risk. For...
by Verasset | Jul 31, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
Verasset recently completed an in-depth physical inventory and reconciliation project for an automotive dealership. The dealership has been family owned and operated since inception. One of the majority shareholders was looking to sell his shares and get out of the...
by Verasset | Jul 29, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
Do you have Ghost Assets? If you are like nearly 2/3 of businesses, the answer is, probably. Are ghost assets costing you money? Absolutely. It is estimated that at least 65% of companies have ghost assets listed on their general ledger. Based on 11 years of...
by Verasset | Apr 29, 2014 | Asset Life Cycle, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory, Sarbanes-Oxley Act
Manufacturing companies, regardless of size, typically have a significant investment in capital assets. Regardless of what it is they produce, specialized machinery, tools, equipment, vehicles, etc., are used in daily operations. This is in addition to the everyday...
by Verasset | Mar 6, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Register, Latest News
Controls are necessary in order to ensure that asset management is occurring and as expected. There are many ways to achieve control and they will vary throughout the asset life cycle. For example, controls that apply to acquisition will differ from those of...
