Reviewing Fixed Asset Registers: Practical Tips and Common Errors

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