Reviewing Fixed Asset Registers: Practical Tips and Common Errors
By Skye Francis
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58m CPD time
Understand what to look for when reviewing fixed asset registers and how to fix common issues.
In this session, we cover:
Why are you reviewing the FAR – what is your scope?
Key client matters to understand before you start
What to do if you find ‘something’
Errors vs Choices
Amending the prior year tax returns, including dealing with loss years
Key fields of the FAR
Practical step through to review a FAR: Case study
Tools to help review the FAR
Common errors to check
Effective life/method/rate
Start date issues
Cost
Calculation issues
Disposal considerations