Asset Management Resources Blog

The Asset Management Resources blog is a resource for anyone interested in learning more about Sarbanes Oxley compliance and news as well as information regarding fixed asset management inventory and reconciliation.

Fixed Asset Management - how important is data quality?

Without exception the data found in most fixed asset ledgers or systems is 65% inaccurate or incomplete.  The accounting practice of bulk entries simplifies the accounting effort but is negatively impacts future transactions.  In many cases, the employees have moved on and recreating the make up of the bulk entry becomes difficult if not impossible.  The organization loses data visibility.  In many companies the fixed asset ledger or system is the data used by the tax professionals, facility management personnel, or strategic planning.  Are accurate decisions possible when data visibility is suspect at best?  How has this issue manifested itself in your organization?

posted on Tuesday, April 04, 2006 2:28 PM


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