Fixed Asset Management & Verification

Fixed assets are tangible assets an organization. These assets play a pivotal role in production and supply of services or goods. As an organization grows, it is also imperative that all its assets are maintained in the best of condition. It is also important that the organization maintains control over its assets especially in cases where the same are spread across locations.

Organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. With International Financial Reporting Standards / Indian Accounting Standards (IFRS / IndAS) mandating the componentization of assets, this Fixed Asset Management has become even more critical.

LCPL provides extensive services in this area that include:

• Creation of FA database from multiple sources in an organization
• Physical verification of assets including bar coding, & RFID solutions
• Reconciliation of physical results with FA registers and solutions for the gaps
• Tracking the movement and disposal of fixed assets
• Maintenance of precise fixed asset records with working condition of asset
• Componentization and valuation of assets