1. Confirm the value of Fixed Assets Capitalized. Expenses incurred till the installation of the Fixed asset should be capitalized. any expenses incurred afterward corresponding the maintenance should be charged to Expense Account.
2. Check the date of acuisition of the asset and the date of put to use.
3. Check the calculation of Depreciation on the fixed assets.
4. The assets sold and purchased during the year.
5. If any impairment has been effected during the year, check the caluculation of imapirment.