Benefits of a Fixed Asset Register

Do you know what is in your school?

As a Crown entity, your school must comply with accounting Standard IAS-16.
This requires your school to record assets of a specified value on an asset register and depreciate those assets to reflect a fair value within your school accounts.

CES can assist your school by undertaking a rigorous asset stocktake to determine the accuracy of your asset register.  We will visit your school, do a physical check of assets, prepare an inventory of what we have found on site and reconcile this to your asset register.

As a major supplier of new and used goods to New Zealand schools, we have access to, and knowledge of, detailed price schedules within a wide range of conditions.  CES are therefore uniquely placed to accurately assess and categorise the value of your school’s assets.

A fixed asset register will help your school to:

  • ensure you have a detailed list of assets for insurance purposes;
  • determine that financial reports accurately reflect depreciated asset values;
  • fulfil the Ministry of Education’s requirement for an up-to-date asset register;
  • give security to the Board of Trustees that assets are correctly valued and recorded;
  • assist in planning and decision-making with clearly detailed information;
  • analyse relative performance of assets in terms of cost and usage.

Your school will receive a detailed 3-part report:

The complete asset register report will account for all assets in your school – even redundant stock without any book value. After receiving CES’s stocktake report you will know exactly what is in each room and every part of your school.

CES reports are provided on CD in EXCEL format and as a bound hard copy.

CES can also assist with:

Asset Register Maintenance

CES is able to maintain your fixed asset register for a low annual fee. Simply supply CES with details of your school’s purchases and disposal of assets and we will keep your register updated. Personal assistance is available by phone or email during office hours.

Barcoding

CES can also barcode your school’s assets to ensure a comprehensive, individualised asset count. Each item is identified by a unique code which can be customised to be easily tracked and traced with simple software or a barcode reader (available from CES). Labels are printed by Saito, the leading barcode company, and are almost impossible to remove.

CES reports are provided on CD in EXCEL format and as a bound hard copy.
Shown below is a representative snapshot of a presented barcode report.

 

School Assets Video Records

CES is able to video or photograph each room within your school to provide a visual record of assets in each room.

Inventory Count / Labelling

An inventory account differs from an Asset Register in that only items above a specified value are counted. A comprehensive report is supplied, but depreciation and residual values are not included.
The report can be customised to your school’s requirements and is invaluable for insurance purposes.
As an additional service, customised labels can be attached to selected assets.

CES reports are provided on CD in EXCEL format and as a bound hard copy.

Shown below is a representative snapshot of a presented Inventory Count.