Fixed assets register question.
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I have a question from college this week that has got me completely stumped!
It is 'There are 2 checks, using the fixed assets register that a business sould carry out regularly. Explain what they are and how they should be carried out.
I know that one of them is to check the physical items against the register, but what is the other?
many thanks,
Vicki.
It is 'There are 2 checks, using the fixed assets register that a business sould carry out regularly. Explain what they are and how they should be carried out.
I know that one of them is to check the physical items against the register, but what is the other?
many thanks,
Vicki.
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Comments
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Re:Fixed assets register question.
One could be checking the assets actually agree as you have mentioned.
Another could be to check that that NBV on the register is accurate. If there has been an impairment to an asset, ie. severe damage, then the NBV value should be reduced to reflect this.0