by Verasset | Jan 21, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory
At a minimum, the following data elements should be accurately recorded and maintained: A unique means to identify each asset, such as a manufacturer Serial Number or an affixed Asset Tag Number Costs- both Purchase and Installed Costs Depreciation– current and...
by Verasset | Jan 20, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
While information can take many forms and be used for many reasons, our focus will be placed on the bare minimum required to track, manage and report on capitalized fixed assets. Â It is equally important to identify several terms we will use. These include purchase...
by Verasset | Jan 16, 2014 | Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News
As we begin to look at the fixed asset life cycle, it makes sense to define it. The asset life cycle represents the varying stages that an asset is processed through, from planning a purchase through retirement from service. Along the life cycle, business practices...
by Verasset | Jan 14, 2014 | Asset Appraisal, Asset Reconciliation, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory, Risk Mitigation, Sarbanes-Oxley Act
Businesses face many risks every day. One major risk relates to managing and deploying large amounts of money while creating value for shareholders. Business property, equipment and assets represent a significant investment of money. Management of this investment...
by Verasset | Jan 6, 2014 | Asset Reconciliation, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
Over the last decade, we have found that at a minimum 50% of fixed asset information is either inaccurate or incomplete. Therefore, the only reliable way to verify and validate fixed asset information is to conduct a physical inventory. All fixed asset inventory data...
by Verasset | Dec 9, 2013 | Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory
One important means towards maximizing your investment in performing a fixed asset physical inventory is to include expensed items, in addition to capitalized fixed assets, in the counting process. We recommend that the focus is applied toward expensed items with...
