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APPENDIX 1, ANNEX A, CHAPTER 28AFN1050AG001STATEMENT OF FIXED ASSET INVENTORY ACCOUNT VERIFICATION OUTLET NAME :FIXED ASSET INVENTORY ACCOUNT :FA INVENTORY HOLDER NAME:PHONE :NAME/INDEPENDENT VERIFIER

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How to fill out statement of fixed asset

01

Gather all relevant information about the fixed assets owned by the company.

02

Prepare a list of all fixed assets including details such as description, serial numbers, acquisition date, cost, and estimated useful life.

03

Calculate depreciation for each fixed asset based on the chosen method (straight-line, double declining balance, etc.).

04

Fill out the statement of fixed asset form provided by the company or accounting software.

05

Review the completed statement for accuracy and completeness before submitting it for approval.

Who needs statement of fixed asset?

01

Companies and organizations that own fixed assets such as machinery, equipment, buildings, furniture, etc. need a statement of fixed asset to accurately report the value of these assets in their financial statements.

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What is statement of fixed asset?

The statement of fixed asset is a document that lists all the tangible assets owned by a company, such as land, buildings, machinery, and equipment.

Who is required to file statement of fixed asset?

All companies and organizations that own fixed assets are required to file a statement of fixed asset annually.

How to fill out statement of fixed asset?

The statement of fixed asset is typically filled out by listing each fixed asset separately, including its description, acquisition cost, accumulated depreciation, and net book value.

What is the purpose of statement of fixed asset?

The purpose of the statement of fixed asset is to provide an overview of the company's tangible assets and their value, which is important for financial reporting and decision-making.

What information must be reported on statement of fixed asset?

The information that must be reported on the statement of fixed asset includes the description, location, acquisition cost, useful life, depreciation method, accumulated depreciation, and net book value of each fixed asset.

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