Fixed Asset Inventory & Reconciliation (FAIR)
Our flagship service is a comprehensive approach that cleanses and fortifies your
fixed asset register to establish a stronger foundation for effective fixed asset
management. In addition, fixed asset inventory and reconciliation services provide
the necessary data visibility to avoid the risk of non-compliance with financial,
tax and regulatory issues. As a SAS 70 Type II and ISO 9001 Certified Provider,
AMR will deliver the most reliable and standardized fixed asset inventory records.
AMR's standard Fixed Asset Inventory & Reconciliation (FAIR) project includes the
following phases:
- Wall-to-Wall Physical Inventory: Utilizing state-of-the-art handheld technology
to capture quality asset inventory data and creating a vehicle for more efficient
cycle inventory by tagging all assets with a barcode or RFID label.
- Floor-to-Book Reconciliation: Reconciliation of inventoried assets to a fixed asset
ledger and/or other corporate asset management database (e.g. IT, Facilities, Maintenance,
etc.).
- Book-to-Floor Reconciliation: Detailed review and reconciliation of remaining capital
assets not able to be inventoried, including real property, bulk assets, ghost assets,
intangibles, etc.
- Cost Componentization: Additional detailed cost componentization of capital equipment
that creates the support needed for IFRS and re-classification of assets into more
accelerated depreciation/personal property tax categories.
- Reporting / Data Delivery: The FAIR service results are delivered with a detailed
audit trail for every asset and reports/data files are formatted to facilitate electronic
updates of asset databases.
The fixed asset inventory and reconciliation approach, which has an unparalleled
audit trail, is deemed by AMR clients as a methodology that bridges gaps typically
experienced with traditional fixed asset "reviews". In addition, AMR utilizes Project
Management Professional (PMP®) methodologies that take into account a variety of
issues to ensure a successful and minimally disruptive project.