Good day to you. I have shared the asset master file as attachment where all the assets of Engineering and Production have been incorporated for all the facilities. I already talked with Asset Manager and General Ledger Team regarding some anomalies in asset valuation and “Date placed in service” in this file and as per Mr. Pankaj’s request I tried to figure out and solve the same. After having a good look I found that actually more than 60% assets have been capitalized here with either wrong “asset value” or “Date placed in service”. Some examples are as below…
First five of the above assets are newly purchased and thus it was easy to figure out those anomalies. But in many cases it is not difficult rather time consuming to accumulate actual asset value even if the asset is not so old because of being purchased by separate hand. Again it is not possible to gather any straight forward information of many assets because of the age whether it is clear from above that the current filed information is wrong.
In the above circumstances, I would like to request you to take necessary steps to find out a solution as asset value and “actual date placed in service” may affect actual costing.
Please find the attached two sheet for ASSET of plant machinery list. Some value required to be rearranged that I have discussed with you. All the machineries for QAD, QC, PD and WareHouse are not confirmed here.
First five of the above assets are newly purchased and thus it was easy to figure out those anomalies. But in many cases it is not difficult rather time consuming to accumulate actual asset value even if the asset is not so old because of being purchased by separate hand. Again it is not possible to gather any straight forward information of many assets because of the age whether it is clear from above that the current filed information is wrong.
|
Sl
No
|
Asset Name
|
|
1
|
Air compressor
|
|
2
|
Fluid Bed processor
|
|
3
|
Yoosung vial washing machine
|
|
4
|
Noak cartooning Machine
|
|
5
|
Noak Blister machine
|
|
6
|
Blister Packing Machine (Ullmann 1)
|
In the above circumstances, I would like to request you to take necessary steps to find out a solution as asset value and “actual date placed in service” may affect actual costing.
Please find the attached two sheet for ASSET of plant machinery list. Some value required to be rearranged that I have discussed with you. All the machineries for QAD, QC, PD and WareHouse are not confirmed here.