Asset Register / Reconciliation

 

An accurate asset register improves an organisations knowledge of their physical assets and the performance of the business operations.

 

An accurate asset register is critical to such systems however many company asset registers are often difficult to marry inventory asset registers to the physical assets.

In some instances asset registers are so poor that reconstructing the asset register is the best method giving accurate information of the assets but retaining the required financial information.

 

An asset register reconciliation project can solve these problems. This project involves registering independent assets to a level of material agreed upon then then reconciling the independent asset inventory to your current asset register.

 

Asset reconciliations are most commonly
used for:

• Establishing and maintain an accurate asset register.
• For financial reporting.
• Purchase price allocation upon acquisition.
• Internal and external audit satisfaction.