This is a detailed list of the business assets, it includes details on assets such as condition, location and owner. The purpose of an asset register is to enable the business to know the status, procurement date, location, price, depreciation, and the current value of each asset.
Benefits of an updated asset register include but not limited to;
- Transparency of all asset data
- Ensure all assets remain compliant with regulatory standards
- Provide an accurate audit trail
- Prevent asset from being lost
- Helps in calculating depreciation
We help corporates with development of assets capitalization policy and coming up with a well updated asset register.