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Fixed format of fa register in caro ?

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)

26 April 2012

CARO speaks about proper record keeping of quantitative details and location of FA. But the FA register avialable in the market shops show many other details like supplier name, WDV, Depreciation, date of putting to use etc. My question is if there is any fixed format of FA regsister under any law.

Regards,

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Mihir Doshi (B.Com, CA, CS, LLB) (2187 Points)
Replied 26 April 2012

Dear Dipjyoti, There is no such fixed format as prescribed by CARO or any other act, but It should contain particulars of assets, addition, deletion, impairment, capitalisation in AS 16, date of putting into use, name of supplier and other details, location, tag no. of assets, identification mark etc This is to make effective control on existence of Fixed Asset as such. There will be good control over the assets when it is spread through out different branchs, divisions and locations. Thus, CARO purpose can be served effectively and efficiently. Thanks Mihir Doshi