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Fixed Assets

Fixed Asset Reporting For State Board of Accounts.

We offer fixed asset reporting for State Board of Accounts. Libraries and Schools use our services for accurate reporting on an annual to bi-annual basis. Our values are based on historical original costs which are derived from existing asset records or estimated if records are limited. Our reports include costs for Land, Land Improvements, Buildings, Machinery, Furniture and Vehicles.

We consider your building, its components, and all property, while considering factors like age, location, and the potential for redevelopment. We take into account each of the following assets, establish original cost, and provide asset tags if applicable.

Land

Land Improvements

Buildings

Machinery and Equipment (including Licensed Vehicles)

Furniture and Equipment

The process of managing fixed assets involves standardized reporting that gets submitted to the State Board of Accounts. These reports are a crucial component of financial records used for accounting, maintenance, and management purposes. We undertake the reporting in the following phases:

Acquisition

Inventory

Establishing original cost and depriciation

Preparing report for State Board of Accounts