Fixed assets register
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2012
Team
Greetings of the day
Can the Financial system outputs be termed as Fixed Assets Register ? To my understanding it is not.
The Financial information form part of the Fixed Assets Register.But the FAR has more information / data over and above Financials.
Please share your expert opinion / Regards
Greetings of the day
Can the Financial system outputs be termed as Fixed Assets Register ? To my understanding it is not.
The Financial information form part of the Fixed Assets Register.But the FAR has more information / data over and above Financials.
Please share your expert opinion / Regards
21 February 2012
yes. Financial system output cannot be totally considered as fixed assets register. it should have fixed asset in detailed manner like purchase date,rate of depreciation, asset put in to use. asset purchase value, any other additions in fixed asset, vendor details, life of the fixed assets, block of assets details, category and rate of deprecation under income tax.etc..
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