08-05-2011, 03:42 PM
I have checked WWW.ICAP.org.pk and found the following relating to Fixed Assets Register
(a) detailed description of each item
(b) original cost of the item
(c) date of its acquisition
(d) classification of the item
(e) the location and/or the custodian of the item
(f) the rate of depreciation
(g) accumulated depreciation
(h) depreciation charge for the period
(i) the department / cost center / product to which the depreciation is charged
(j) date of revaluation (if any)
(k) revalued amount (if any) of the items
(l) depreciation on revalued amount
(m) accumulated depreciation on the revalued amount
2.2 Physical inventory of fixed assets Physical verification of fixed assets should be carried out on a cyclical basis (perpetual inventory) according to a formal plan once in five year. The physical inventory should be reconciled with the fixed assets records and adjusted accordingly.
I think anybody can prepare it in MS.Excel.
Am i right? Plz advise me if i am wrong.
Best regards,
(a) detailed description of each item
(b) original cost of the item
(c) date of its acquisition
(d) classification of the item
(e) the location and/or the custodian of the item
(f) the rate of depreciation
(g) accumulated depreciation
(h) depreciation charge for the period
(i) the department / cost center / product to which the depreciation is charged
(j) date of revaluation (if any)
(k) revalued amount (if any) of the items
(l) depreciation on revalued amount
(m) accumulated depreciation on the revalued amount
2.2 Physical inventory of fixed assets Physical verification of fixed assets should be carried out on a cyclical basis (perpetual inventory) according to a formal plan once in five year. The physical inventory should be reconciled with the fixed assets records and adjusted accordingly.
I think anybody can prepare it in MS.Excel.
Am i right? Plz advise me if i am wrong.
Best regards,
