Procedure for verification of capex
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2015
Hello everyone,
Can anyone brief me regarding the procedure for verification of Capex in a company.
Can anyone brief me regarding the procedure for verification of Capex in a company.
29 March 2015
1) Check the sanction as per Capital Budget.
2) Check the Capital File, Invoice, Installation & Commissioning Certificate/Completion certificate for each capital item.
3) Also check the total Capex with this formula:
Capex= Addition to Fixed Assets + Movement in Capital Work In Progress + Movement in Capital Advance.
4) Capitalization entry should be supported by the Installation & Commissioning Certificate/Completion Certificate.
These are the basic steps followed in PSU's to verify Capex.
In case of any further query, please revert back.
2) Check the Capital File, Invoice, Installation & Commissioning Certificate/Completion certificate for each capital item.
3) Also check the total Capex with this formula:
Capex= Addition to Fixed Assets + Movement in Capital Work In Progress + Movement in Capital Advance.
4) Capitalization entry should be supported by the Installation & Commissioning Certificate/Completion Certificate.
These are the basic steps followed in PSU's to verify Capex.
In case of any further query, please revert back.
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