Cash is the life blood of every organization. Trade & Other receivable contribute significant shares in working capital management. Due to lack of proper reconciliations, receivable from customers pile up and at one point start creating cash flow problems for the companies. if this persist, these become time barred and difficult to recover due to […]
Tracing /Tracking of Assets refers to identification of assets placement as collateral with Banks against bank financing. It also include tracing of immoveable properties in government records to find correct owners. Will-full bank defaulters usually provide fake documents of assets against their borrowings to make fraud. While enforcement, the bank faces difficulties recover their due […]
Fixed Assets Register means the subsidiary ledger of all fixed assets which maintain the complete profile of each item of asset from purchase till disposal. Every Company is required to maintain proper fixed assets register as per local pronouncement of accounting body. Apart from legal requirement, it is the responsibility of the management to establish […]
It refers to reconciliation of subsidiary or physical records with General Ledger. It is needed at the time of acquisition or if an integrated MIS is being implemented. Usually, the management has lesser focus on fixed assets and its subsidiary records. Due to lack of frequent reconciliations, the difference become bigger and may have significant […]
It refers to placement of various types of tags to all items of fixed assets for proper recoding and tracking. To have proper and long lasting tagging, various types of tags can be used which includes bar code based aluminum foil or steel plated tags. The management of the Company is responsible for the safe […]
