Fixed Assets Management Dubai

Fixed Assets Management

FAM is an accounting process to keep a track on companies Fixed Asset for the purpose of financial accounting ,asset maintenance and theft prevention

  • FAM aims to track the location, quantity, condition, maintenance and depreciation status of their fixed assets
  • FAM consists of two activities namely –
    • Fixed Assets Verification (FAV)
    • Fixed Assets Register (FAR)

Activities performed under FAV/ FAR

  • Achieve regulatory compliance applicable to the organization
  • Identification of any ghost assets in the books of accounts
  • Assistance in performing dynamic inventory verification
  • Ensure accurate depreciation calculation for reporting purposes
  • Assistance in movement and disposal of asset in a proper manner
  • Ascertainment of variance between books and physical verification
  • Bar Coding of individual asset tags will significantly reduce the effort necessary for verification of inventories
  • Enables multiple concurrent inventories with centralized reconciliation
  • Ascertain fair value of the fixed assets that may reduce insurance and tax costs
  • Track’s origin and destination of transferred assets. Lists transfer date, acquired values
  • TRC Pamco Middle East expertise lies in FAM and our vast knowledge in this activity helps to provide ready solutions to our elite clientele in all sectors.

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