Asset Management, how you benefit…
F3 Asset Advisory can provide a complete asset management service to be presented to staff and relevant parties.
Our company can locate, define, record and value all your company’s assets so an accurate Asset Register is established and implemented.
An Asset Register is the cornerstone of any business regardless of the size of the asset portfolio, it is a key to understanding in detail what assets are owned and controlled by an entity.
Having a complete and accurate Asset Register can also assist with a Personal Property Securities Register (PPSR) registration for consumers which provides protection for your assets in the case of leasing.
The register is designed to provide greater certainty and lower the implications and exposure to banks and finance companies due to a registered security inclusion.
We recognise the risks encountered by administrators, liquidators and receivers in defining ownership of assets in possession of a company. With access to the PPSR we are able to assess if assets have a security interest registered against them and advise our clients.
In our business we have reviewed hundreds of asset registers, unfortunately these common short comings are all too frequently observed
- Incomplete asset listings, little or no updating of asset registers
No evidence of regular re-valuations of key equipment or register reviews
- Poor descriptions – build dates, serial numbers, registration details, hours worked etc.
- Asset locations and asset custodians
- Disposed assets or insignificant assets still on registers
- Misallocated assets, incorrect classifications
- The likely current condition of assets
Are you exposed?
Companies unwillingly expose themselves to a variety of risks by not accurately establishing and maintaining their asset registers, these risks might include
- Under insurance, or in some cases over insurance
- Warranty coverage or expiration
- Information required to meet accounting standards and other regulatory requirements
- Inadvertently conveying incorrect asset values to shareholders, lessors or lenders
- The level and frequency of asset maintenance programs, routine maintenance vs reactive maintenance
- Poor asset replacement planning
- Lacking proof of ownership in case loss, sale, theft or taken out of service
There are costly financial consequences to not maintaining, protecting and correctly recording assets for all companies. An asset register allows for computation of depreciation and for legal, tax and insurance purposes. Allow your company to keep track of the details of each fixed asset.