Our Services: What We Do.

Asset Verification:

We advise and assist organizations in carrying out fixed asset inventory and verification. This involves the identification of all assets of the organization taking into cognizance, their locations, quantity, and asset status, year of purchase, asset custodian, and codifying and computerized indexing of assets

Fixed Asset Reconciliation:

We reconcile the physically verified fixed assets with the existing fixed asset register. This enables us to identify ASSETS IN REGISTER AND ON LOCATION, ASSETS IN REGISTER NOT ON LOCATION and ASSETS ON LOCATION NOT IN REGISTER and finally come up with a consolidated fixed assets register for your organization to ensure proper planning and management decision asset wise.

Fixed Assets Tagging:

We administer unique and barcoded asset tags on each verified and reconciled fixed asset. Clients have the privilege of selecting their coding pattern and the type of tagging technology they prefer for their fixed assets.

Fixed Asset Tagging Technologies

Tamper-proof label: This is printed with the client’s design and available in a full range of colors, it is extremely flexible and can be used for a multitude of purposes such as bar code identification. This technology is very suitably administered on Furniture and fittings and Office equipment.

Paint /Water Resistant Label is a tamper-proof label that has additional technology to protect the tag during the repainting of factory machines and equipment and also protect the tag from the effects of grease, oil, and water in any manufacturing environment. This technology is very suitably administered Computer equipment.

Permanent Mark is used with total confidence on a wide range of items such as computers, office equipment, furniture and fittings, plant & machinery, microwave radio communication equipment / Vsat masts, vehicles, etc, using your organization name, postcode, departmental name, sequential numbers, etc.

VoidLabel unlike the Tamper proof label will leave a bold “VOID” on the surface of any asset when forcefully removed and this will enable users to know that the asset has been tampered with.

Supermark is a combination of Tamper proof label and Permanent Mark technology, which brings security and asset-tracking features to the users.

Aluminum/Metallic Tag is a durable and reliable tagging technology that resists abrasion, solvents, sun, salt air, and high temperatures. Barcodes, numbers, copies, and logos are photographically reproduced within the anodic layer of aluminum for maximum protection and readability. It is available in pressure-sensitive adhesive or optional holes, plus optional tab features ensuring accurate and reliable reads.

Asset Valuation:

We have the expertise to handle Asset valuation of all types of properties including Plant & Machinery, Land & Buildings, Plant & Machinery, Motor Vehicle, and other fixed assets for all purposes e.g. Insurance, Compensation, Open Market Value, Business Mergers and Acquisitions, Commercialization and Privatization. Fixed assets are normally depreciated in the books of account with the result that values often shown against fixed assets in the company’s annual balance sheet are grossly unrealistic. To ensure that financial statement reflects the true worth of business organizations, professional valuations of the fixed assets of companies are carried out periodically.

Professional valuation may also be carried out for insurance purposes.This is to advise the insurer and the insured alike on the worth of the property concerning the risk it is exposed to. Such risk includes natural disasters like rainstorms, earthquakes, fires, etc. The objective is to ensure that insurance policy coverage is adequate.

Asset Disposal:

We have expertise in handling Asset Disposal of all types of properties including Plant & Machinery, Land & Buildings, and other fixed assets for all purposes that are in Excess, Obsolete, Worn, Damaged, and Scrap fixed assets.
  • Excess fixed assets are items that are no longer needed but are still serviceable or useable
  • Obsolete fixed assets are items that no longer meet the client’s specifications or requirements but are still serviceable or useable.
  • Worn fixed assets are items that may still be operable but require excessive maintenance or repair (cost, manpower) to remain in an operable condition.
  • Damaged fixed assets are items that are not operable due to damage or accident and would require excessive repair (cost, manpower) to return the asset to serviceable condition
  • Scrap fixed assets are items that no longer function, are unserviceable, and have no market value except for their basic material content. For these exercises, we would assist your firm to determine under which of the above the fixed assets to be disposed of are classified.

    BENEFITS OF FIXED ASSETS VERIFICATION TAGGING AND RECONCILIATION


  • Accurate Financial Reporting: Fixed assets management ensures that financial records are up-to-date and reflect the actual value and condition of assets, enabling accurate financial reporting and decision-making.
  • Optimal Asset Utilization: Proper management helps ensure that assets are used efficiently, reducing idle time and maximizing productivity.
  • AssetProtection: Regular maintenance and tracking help prevent asset loss, theft, or damage, reducing financial losses
  • Compliance: Fixed assets management helps companies comply with accounting standards, tax regulations, and auditing requirements.
  • CostSavings: Effective management reduces unnecessary purchases, extends asset lifespan, and minimizes maintenance costs
  • RiskManagement: Identifies and mitigates risks associated with asset ownership, such as obsolescence, depreciation, and disposal
  • Improved Decision-Making: Accurate data enables informed decisions on asset acquisitions, disposals, and upgrades.
  • EnhancedProductivity: Streamlined asset management processes reduce administrative burdens, freeing up resources for core activities.
  • Better Customer Service: Efficient asset management ensures that critical assets are available when needed, supporting customer satisfaction.
  • Competitive Advantage: Effective fixed assets management contributes to a company's overall efficiency and competitiveness in the market.
    As itemized in the few examples above, benefits derivable from maintaining a Fixed Asset Register (FAR) are enormous and BODMYN is willing and prepared to partner with your Company to ensure proper implementation of this vital record. Our experiences and expertise in handling similar projects in various organizations will be of immense assistance in this respect

    • Have a project? Let’s talk about it.

    Have a fixed asset project in mind? Whether you need verification, tagging, valuation, or reconciliation, our experts are ready to guide you through every step.

    Let’s collaborate to build a customized solution that meets your goals and ensures full compliance. Reach out today—we’re just a message away.

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