Fixed Asset Inventory Audits

Best Practices to Physical Inventories

Ever wonder what you actually have in your office or facility? How much could you save in insurance and property taxes each year if you knew? Well... if you ONLY knew!

Just about every organization has a ghost assets – assets that no longer physically exist within the organization yet remain on the books. Analysis shows that 10% to 30% of the fixed assets recorded by a typical organization fall under this category. These ghost assets negatively impact everything from depreciation schedules to insurance payments, personal property tax rates and even earnings calculations.

Material Covered

During this one (1) hour Webinar we will be talking about the Best Practices to perform a physical audit of your fixed assets. We often receive the same set of questions over and over again from our Clients:

• Should I perform a Baseline or Dynamic inventory (or what the heck are you talking about)?
• Where do I even begin to start?
• What is the best way to tag my assets?
• Which assets should I even tag (i.e. all or just my capitalized assets)?
• How would I even go about the reconciliation process and why should I do this step?
• Finally... what is the best thing to do with this clean data?

Our fully trained and knowledgeable FAS Consultant and Physical Inventory Specialist will answer all these common questions and more. Even... gosh, if it's this much work and will take all these internal resources, what can we expect to pay if we outsource this?