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fixed assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 March 2010 main points to check in fixed assets register when fixed assets valuation is to be carried out.
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Rahul Gupta

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Rahul Gupta (Expert)
27 March 2010 Some Points to be Checked >

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.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
27 March 2010 agree with Expert
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
27 March 2010 Agreed..
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2010 Thank you for the prompt and right suggestions.
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Ankur Garg

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Ankur Garg (Expert)
29 March 2010 Agree with all the above mentioned suggestions by Expert Rahul.

For fixed assets register excel format use search facility of caclub.

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