Fixed Asset Appraisals

Fixed asset records can be subject to large inaccuracies that accumulate over time due to poor internal controls, difficulty tracing moveable equipment, retirements, disposals, changes in capitalisation thresholds, personnel changes, bulk purchases and merger and acquisition activity.

We assist clients by providing them with a fully outsourced fixed asset reporting system including identification, verification, valuation and compilation to fully support financial reporting and asset valuation reporting requirements. Our services provide clients with accurate and up-to-date property records for many purposes, including:

• Preventing adverse financial reporting implications, management letter comments and adverse opinions from external auditors
• To reduce insurance premiums, prevent over- and under-insuring and provide proof of loss for insurance claims.
• Ensuring efficient and accurate tax accounting
• Providing the information required to get the best return on equipment
• Producing maintenance schedules to ensure machinery is in perfect working order

Our Work

In addition to unrivalled valuation expertise, our professionals have experience with all major accounting records software systems, and are experts in fixed asset accounting, including Generally Accepted Accounting Principles (GAAP) and tax regulations. Our services include:

Identification and Verification:

• Physical identification and verification of fixed asset inventories for clients wishing to confirm their records. We identify any unrecorded capital asset additions or disposals and prepare a detailed updated property record.
• Implementing a system of barcode tagging which automatically checks the actual property to the related property accounting data file for fast and efficient updating.

Compilations:

• Compilation of current year capital asset activity such as additions and disposals providing for future updates by American Appraisal specialists or by client staff.

Valuations:

• Comprehensive valuations of all types of fixed assets for inclusion in accounting reports, ensuring no assets are overlooked. Our values are based on reliable resources such as our national machinery and equipment database.
• Annual updating of property valuations based on information including current year capital assets additions, disposals and retirements.

Inventory Policies and Procedures:

• Reviewing fixed asset systems, suggesting areas for development and ensuring systems are in place which can project when replacement will be required.
• Assisting in the creation of a single property records system that serves accounting, fixed asset management, financial management, insurance and maintenance purposes. Our property records systems also provide depreciation reports to help you decide whether to replace or keep equipment.
• American Appraisals' Property Records Outsourcing Services (PROS) includes certain verification, compilation, and annual updating services that are designed to assist our clients in the maintenance and perpetuation of complete and accurate property records including property accounting reports with current year and accumulated depreciation calculations, additions and disposals and fixed asset roll-forward analyses.

Please feel free to contact one of our experts to discuss how we might assist you with your fixed asset records.