What is the purpose of maintaining a Fixed Asset Register? |
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What is in a Fixed Asset Register? |
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As we know fixed assets can comprise of movable and immovable items like plant & vehicles, land and buildings, furniture and fittings, computers and others. Therefore, the recordings of information may varies from one type of fixed asset to another.Plant and vehicles
The information would help to assess when new vehicles need to be acquired. Papers should include those recording ownership, payment of registration fees, warrant of fitness and insurance. Land and Buildings
Furniture and Fittings – It may not be necessary to individually number all desks and chairs, but records should be kept showing the total number acquired and disposed of.Computer Terminals and Microcomputers – These assets are relatively expensive and are portable, which may mean that they are a target for theft or unauthorised disposal. Prudent precautions include listing these assets by serial number and location within the organisation.
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Other Salient Points To Note:- |
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