Fixed Assets Management

Fixed Assets Management (FAM) is a crucial accounting process that helps businesses track, manage, and safeguard their fixed assets for accurate financial reporting, asset maintenance, and theft prevention. At Accruon, we provide expert FAM services in UAE, ensuring your assets are efficiently monitored and accounted for.

What is Fixed Assets Management (FAM)?

FAM focuses on maintaining a comprehensive record of a company’s fixed assets, including their location, condition, quantity, maintenance schedules, and depreciation status. It ensures regulatory compliance and improves financial transparency.

Key Components of FAM

1. Fixed Assets Verification (FAV) – Verifying physical existence and condition of assets.
2. Fixed Assets Register (FAR) – Maintaining an organized register of all assets, their value, and lifecycle.

Activities Performed Under FAV and FAR

• Ensuring compliance with applicable regulatory standards in UAE
• Identification and elimination of ghost or unrecorded assets
• Assistance in dynamic inventory verification and movement tracking
• Accurate depreciation calculation for financial reporting
• Proper management of asset disposal and transfers
• Barcoding of asset tags for efficient verification and tracking
• Conducting multiple concurrent inventories with centralized reconciliation
• Determining fair value of assets to reduce insurance and tax costs
• Tracking asset origin, transfer dates, and acquisition values

With our deep expertise in Fixed Assets Management in the Middle East, Accruon Consultant delivers ready-to-use solutions across sectors, helping organizations maximize asset utilization and minimize financial risks.