Physical verification is a process that involves verifying the existence and condition of physical assets such as machinery, equipment, and property. Physical verification of fixed assets is critical for businesses to ensure that their financial records are accurate, up-to-date, and compliant with accounting standards. Fixed asset valuation and fixed asset register (FAR) maintenance are also essential to the physical verification process.
Businesses often rely on the expertise of business advisory companies in Delhi to conduct physical verification and manage their fixed assets. These firms provide various services, including identifying assets, physical proof of purchases, updating asset registers, and valuing fixed assets.
Read More: https://www.cac.net.in/blog/physical-verification-ensures-accuracy-and-reduces-risk/