"The service in outsourced accounting covers such basic areas as inventory and fixed assets bookkeeping, payroll etc."
Hannes Snellman Ukraine LLC
Physical Fixed Assets Inventory Services
Physical inventory is an efficient method of verification of the companies assets, relevance of their presentation on accounts, timely detection and elimination of discrepancies between actual inventory information and accounting data. This will help to ensure that the company’s financial statements are complete and reliable.
Fixed assets inventory aims to:
- verify actual existence of assets
- establish the ownership of items of property and in particular of real estate assets and land
- define assets designated to be liquidated, assets that have become useless, that are unserviceable, superfluous and it also aims to reveal alterations, modernisations etc.
- reconcile physically existing assets with accounting records
- check the asset records completeness.
All assets of the company, regardless of their location, are subject to inventory. A inventory should also cover inventories and other assets not owned by the company (kept on behalf of third parties, leased or received for processing) as well as assets omitted from accounting records for any reason.
Physical fixed assets inventory is performed as the location thereof and by responsible persons.
We provide our independent Physical Fixed Assets Inventory Service that include:
- Verification of physical existence of assets
- Marking of assets
- Inventory lists compilation
- Reconciliation logs preparation
- Inventory cards recovery
- Summarising of assets by groups, items, responsible persons and locations according to the company’s accounting records
- Recalculation of depreciation is also possible.
Audit Firm "Units Consulting Ltd.", Ukraine, is experienced in independent Fixed Assets Inventory Services for financial reporting purposes as well as Due Diligence purposes.
To learn more about our independent Physical Fixed Assets Inventory Services please contact us.
Also see our related services
Financial Due Diligence Services
