Fixed Asset Checklist?
I am working for a company for smaller number than 4 months in a minute and I hold be given a project to toy with their fixed assets.
Here's the scenario:
a. Straight rank depreciation
b. Fixed asset spreadsheet amounts does not own any invoice documentation as far as purchasing the asset.
c. Majority of the assets (90%) are not itemized physically
d. No asset tag!
e. Majority (95%) of the assets be compensated by a parent company within 2004 and 2005.
Need back! What to do first?
Answers:
A few suggestions:
If you can achieve your hand on any income duty returns, that should pass you a honest chunk of what you are looking for. If you or your parent company get audited on a regular reason, return with your hand on the audit files. They without doubt would own taken a look at that. Also, if you own regular audits, phone up the CPA firm and see if they can provide you next to any schedule they've received or find the schedule that be provided to them.
Look stern if you can on your asset accounts within G/L and see what info you can verbs up (hopefully you use an accounting roll near a G/L module that contains history).
Do you enjoy a PO system? Maybe you can start to piece some of the puzzle together near PO history reports (that be coded to asset accounts).
If the transferred assets are on your books, nearby must be some documentation on the transaction(s) that moved them down from the parent company, or if it be something resembling an inter-company transaction, possibly they hold some source documents available.
Take any of that information and contact vendor for source documentation. Once you catch it pieced together, stub them and start fresh.
If none of that get you anywhere, sounds close to perchance a revaluation might be surrounded by lay down. Start from chisel.
My two cents.
Where I can find company filings on the internet for the UK open market (similar to SEC filings in Edgar.com)?
What is a 'customer specific benefit statement'?
Quickbooks users. HELP!!?
Mrs. Mary Parker sends email message to help out her to fund charities etc., mary parker<maryp_147(a)yahoo.d...?
I'm looking to product rather extra money from the internet, anyone know of some fitting websites?
Here's the scenario:
a. Straight rank depreciation
b. Fixed asset spreadsheet amounts does not own any invoice documentation as far as purchasing the asset.
c. Majority of the assets (90%) are not itemized physically
d. No asset tag!
e. Majority (95%) of the assets be compensated by a parent company within 2004 and 2005.
Need back! What to do first?
Answers:
A few suggestions:
If you can achieve your hand on any income duty returns, that should pass you a honest chunk of what you are looking for. If you or your parent company get audited on a regular reason, return with your hand on the audit files. They without doubt would own taken a look at that. Also, if you own regular audits, phone up the CPA firm and see if they can provide you next to any schedule they've received or find the schedule that be provided to them.
Look stern if you can on your asset accounts within G/L and see what info you can verbs up (hopefully you use an accounting roll near a G/L module that contains history).
Do you enjoy a PO system? Maybe you can start to piece some of the puzzle together near PO history reports (that be coded to asset accounts).
If the transferred assets are on your books, nearby must be some documentation on the transaction(s) that moved them down from the parent company, or if it be something resembling an inter-company transaction, possibly they hold some source documents available.
Take any of that information and contact vendor for source documentation. Once you catch it pieced together, stub them and start fresh.
If none of that get you anywhere, sounds close to perchance a revaluation might be surrounded by lay down. Start from chisel.
My two cents.