ABSTRACT
This chapter explains how to manage fixed assets of the company. It describes the role of accounting staff and accounting audit staff. The responsibility of the accounting staff is to prepare and maintain the fixed asset register. The responsibility of the accounting audit staff is to carry out fixed asset audits. ABCCL’s assets are widely distributed and the responsibility for their safeguarding them rests with the manager of the department, unit or division. A registration form shall be sent to the appropriate department/unit/division where the asset is located. Management accounts are prepared and presented to the Board of Directors as specified in the financial manual. However, monthly, the CEO and the Financial Manager shall review the monthly management accounts and when necessary make any necessary suggestions, amendment and deductions.
