30 May 2008
FIXED ASSETS REGISTER IS AVAILBAL AS A PART OF COMBINED STATUTORY REGISTER WHICH CAN BE READILY PURCHASED FROM ANY BOOK SELLER WHO SELLS COMPANY LAW/ROC FORMS OR STATUTORY REGISTERS. MAINTAINING FIXED ASSETS REGISTER IS A MUST FOR PUBLIC OR PVT. LTD. COS.IF NOT THE STATUTORY AUDITOR MAY QUALIFY HIS AUDIT REPORT TO SHAREHOLDERS. THE ISSUE INVOLVED IS SIMPLE. WHILE MANAGEMENT IS DIFFERENT FROM OWNERSHIP,THE ASSETS BELONG TO OWNERS NOT MANAGERS.HENCE THE THE MANAGEMENT BEING A TRUSTEE FOR OWNERS SHOULD MAINTAIN RECORDS SHOWING DETAILS OF ALL ASSETS MOVABLE OR IMMOVABLE FOR AND ON BEHALF OF OWNERS/SHAREHOLDERS. R.V.RAO
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