Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Fixed assets verification report

samjhana (Student CA IPC / IPCC) (24 Points)

29 January 2018

Hi everyone !

Please send me the Fixed Assets Verification Report of a Pvt. Ltd. Company if you have on the email given below:

narendraca10 @ outlook.com

Reply
Follow
Share

3 Replies

CA Amrita Chattopadhyay (Audit & Assurance) (13459 Points)
Replied 29 January 2018

Usually the Fixed Assets Verification report has the following columns

1. Sl.No.

2. Category of assets (Machinery, equipment, furniture etc)

3. Name of the assets

4. Location of asset

5. Quantity (Physically verified)

6. Quantity (as per books)

7. Difference (5 - 6)

8. Reason for difference

2 Like

Upgrade to CAclubindia Pro. Subscribe Now!

V P Narasimhan (Accounts Manager) (791 Points)
Replied 08 November 2018

The following also to be considered

1. Original Invoice 2. Delivery Chalan. Date of Purchase or put in to operation.3. Warranty calsue (to find out the Life time to provide Depreciation with the latest rule) 4. Payment details (if purchased thro' HP/Bank Loan/Lease etc.,5. Original Invoices to be kept seperately for IT purposes.6If Fixed Asssets Register Maintained has it been entered.7 Any Hypotheication/Pledge with Bank/Fianance Lenders.