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 is therefore uniquely placed to accurately assess and categorise the value of your school’s assets.
How it works
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;
- fulfill 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.