Fixed Assets Manual.

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hi,

     I have been assigned a project of preparing a Fixed assets manual of a manufacturing co. I have to submit it on the 30th. Please guide me regarding the same.

Thnx..

Replies (5)

Do u mean Fixed asset register?

 


Required bullet points for preparation of Fixed asset manual

 


  1. Whether budgeted or not if budget what is the cost

  2. Find and Negotiations with vendors to finalize the supplier

  3. Raising PO with specifications to the finalized the supplier

  4. Receiving Goods at factory or Office

  5. Delivery Challan

  6. Recording in Inward Register

  7. Receiving Invoice

  8. Confirm the Installation date with respective dept

  9. Capitalize the asset in books with above said date

  10. Rate of Depreciation

  11. Method of accounting(WDV or SLM) (Take the mgt decision for this)

  12. Maintaining Asset register with all possible details

  13. Numbering the asset with permanent tag

  14. required fields for Fixed asset regster are;







































  15. Sl. No Aseet identification No. Asset Class Descrption of the Asset Qty MACHINE SER NO TFT/CRT SERIAL NO TFT SERIAL NO Location Supplier's Name Status Inv. No. Date Tr. Curr Curr Exch. Rate INR Installation charges (INR) Total Cost Remarks Cap Date Days FY Rate of Depn Depn FY WDV as on EOY Adjustment Adjusted WDV as on EOY Net Asset Value Sale value Acc Depn Loss / (Profit) on sale



 

hey, thnx for your reply... Is there any standard fixed asset manual which i can refer to as i have limited time?? 

Kindly mail me Accouting manuals/Process as per indian Statutory requirement.

 

Thanks

Arjun

I want to ask how do we provide for deprication every year in the fixed aset register, the whole lot has to be copied down every year and depriciation provided.

 


CCI Pro

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