26 Feb 2020

Asset auditing is a process of physically verifying an organization’s assets to confirm that the assets listed on the balance sheet are real and exist physically. It involves conducting a physical examination of the assets, followed by reconciling the data with the asset register. This process is essential for operational and financial reasons, as it helps organizations establish the existence and location of their assets, as well as evaluate their usable condition.

At Rincon, we understand the importance of tracking mobile assets, ensuring they are available, in good condition, and locatable. That’s why we offer complete physical audit services that include all your locations. Our approach is 90% quicker and more accurate than manual paper and pen methods, as we use different tags depending on the need.

After the audit, assets are classified into three categories:

  • Available and good to use
  • Available but not fit for use
  • Not available at all

Our reports generated classify the assets into either of these three categories. Based on management’s decision, the items in the second basket may be sent for repairs or renewal. The third basket items may be written off.

If you’re interested in learning more about our asset auditing services, please feel free to contact us at sales@rincon.co.in.

19 Feb 2020

Asset auditing is a physical verification process. It is akin to comparing an organisation’s “official list” of assets as on the books with the actual assets physically located. By conducting this examination you are confirming that the assets listed on an organisation’s balance sheet are real (or exist physically).

Establishing the existence and location of an organisation’s assets along with evaluation of their usable condition is a crucial business task for organisations of any size.

It involves physically auditing of the assets followed by reconciliation of this data with the asset register. This is critical for operational and financial reasons.

Tracking assets that are mobile (portable) and ensuring they are available, in good condition and locatable is a critical aspect for any organisation. We at Rincon can handle complete physical audits that include all your locations, which can typically be completed 90% quicker (and definitely more accurate) than a manual paper and pen approach since we use different tags depending on the need.

Assets can broadly be classified into 3 categories after audit:

  • Available and good to use
  • Available but not fit for use
  • Not available at all

Our reports generated classify the assets into either of these three categories and then based on the Management’s decision, the items in the second basket maybe sent for repairs / renewal etc. The third basket items may be written off.

Please send us an e mail on sales@rincon.co.in, if interested in knowing more.