True representation of Fixed Assets in Balance Sheet
The fixed asset inventory and reconciliation approach, which has an unparalleled audit trail, is deemed by RCS clients as a methodology that bridges gaps typically experienced with traditional fixed asset “reviews”. In addition, RCS utilizes standard methodologies that take into account a variety of issues to ensure a successful and minimally disruptive project.
Utilising state-of-the-art handheld technology to capture quality asset inventory data and creating a vehicle for more efficient cycle inventory by tagging all assets with a barcode or RFID label.
Reconciliation of inventoried assets to a fixed asset ledger and other corporate asset management database (e.g. IT, Facilities, Maintenance, etc.). Detailed review and reconciliation of remaining capital assets not able to be inventoried, including real property, bulk assets, ghost assets, intangibles, etc.
Additional detailed cost componentization of capital equipment that creates the support needed for IFRS and re-classification of assets into more accelerated depreciation/personal property tax categories.