123 School Work

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  3.     FIXED ASSETS
  
  3.1     FIXED ASSETS REGISTER
  
  Observation
  
  We have observed the following while reviewing the Company's fixed assets register:
  
  1.     It is maintained on manual basis in excel sheets instead of through proper accounting package. Instances of calculation mistakes of depreciation, omissions and errors have been observed.
  
  2.     Manual punching is made in G.L as there is no proper integration of fixed assets register with G.L. As a result thereof, differences appear between balances of fixed assets register and G...