Difficult question

what is recocilation of fixed assets? what if we donot reconcile our fixed assets ? does it effect our balance sheet????

Replies (1)

In big organizations there are numerous number of Fixed Assets held by the organization.  for this purpose a FA Register is requried to be maintained.  these FA are also there in the ERP in whihc the accounting is being done.  So at the end of each month the total of FA as per the FA register held at cost the depreciation charged on such assets & the total as per the system should tally each other.  For this purpose an reconciliation is requried to be done between the two just as you prepare an Bank Reconciliation Statement & check & sort out the differences between teh two.

Small organizations should alos prepare teh FA Register & dot eh reconciliatio between the sytem & teh register.

So if you do not prepare the FA register then it would affect your B/S

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
19 August 2026
PAID ARTCILE ASSISTANT

My Legal Tax Consultants Pvt. Ltd.

Noida

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details