Fixed Asset Management
Kroll has established best practices in fixed asset management that are recognized across our profession.Contact Us
We also maintain an IT consulting staff dedicated specifically to fixed asset management services, such as data and software conversions, as well as to provide clients with access to their data via the internet.
Fixed Asset Management Services for Corporate Decision-Makers
While fixed asset management services will assist corporate decision-makers in meeting external audit and regulatory standards, they can also be extremely beneficial in meeting their firm’s capital budgeting, financial and risk management reporting requirements. Additionally, the identification of unrecorded retirements ghost assets and their elimination from the books may result in a substantial reduction in their property taxes.
- Pinpointing strengths and vulnerabilities
We perform property tax studies to ensure that assets reported for property tax purposes are accurate. By properly identifying transfers, misclassifications and ghost assets, our professionals can help lower property taxes.
We compare our client’s current fixed asset management system with both best practices and compliance with applicable standards.
- Evaluating or managing electronic fixed asset accounting system
We provide verification, compilation and annual updating services that are designed to help our clients maintain a complete and accurate record of their fixed assets for accounting and insurance purposes.
- Advising on policy and focusing on employee awareness training
Drawing on our experience from hundreds of engagements, our professionals can assist in the preparation of a policy and procedures manual, as well as provide hands-on training for all levels of personnel.
Identifying opportunities to claim accelerated depreciation
We have handled cost segregation studies to assist corporations in properly segregating building/renovation costs and depreciation on a component-by-component basis. We possess the engineering, construction, valuation, and regulatory backgrounds to maximize potential benefits.
- Establishing accurate insurable values
We provide insurable values to help determine replacement costs and/or actual cash value coverages and post-loss services.