---
name: fixed-asset-review
description: Reviews a fixed-asset register against acquisition invoices, capitalization policy, depreciation schedules, disposals, and general-ledger balances, flagging unsupported assets and calculation or classification exceptions. Use for month-end close, asset-register cleanup, capitalization review, impairment evidence preparation, and audit support.
license: Apache-2.0
metadata:
  adlass.categories: "finance-accounting/closing-reporting"
  adlass.industries: ""
  adlass.tags: "fixed-assets,capitalization,depreciation,asset-register,disposals,audit-evidence"
  adlass.adaptation: "mapping"
  adlass.source: "original"
  adlass.version: "1"
---

# Fixed asset review

## Purpose

Reconcile the fixed-asset register to acquisition evidence, depreciation schedules, disposals, and general-ledger accounts. Surface missing tags, unsupported capitalization, stale assets, and balance differences with reproducible calculations.

## Scope

Cover asset register, capitalization policy, purchase invoices, goods receipts, depreciation schedule, disposal approvals, impairment documents, and fixed-asset ledger accounts. **Excluded:** posting adjustments, approving capitalization, physical inspection, valuation opinion, and impairment conclusion.

## Data basis

- Asset register with asset_id, description, class, in_service_date, cost, accumulated_depreciation, net_book_value, location, and status.
- Fixed-asset ledger, invoice, disposal, and depreciation tables.
- Capitalization and depreciation policies.

## Result

Create a fixed-asset exception sheet and review memo with cost roll-forward, ledger reconciliation, depreciation checks, disposal status, and evidence gaps.

The workpaper keeps additions, transfers, disposals, and depreciation movements in separate columns. A reviewer must be able to trace a closing net-book-value difference to the asset register, the ledger, or a named missing source without reconstructing the calculation.

Use the same asset identifier across every table and retain the review-period cutoff on each roll-forward line.

## Quality criteria

- Reconcile opening cost plus additions less disposals to closing cost.
- Recompute depreciation using supplied method, life, residual value, and convention.
- Tie material additions and disposals to source evidence.
- Flag duplicate IDs, negative NBV, missing in-service dates, and stale status.
- Cite register, invoice, schedule, policy, or ledger evidence for every finding.

## Instructions

Use the capitalization threshold and depreciation convention in the supplied policy; never invent them. Keep cost, accumulated depreciation, and NBV separate. Fully depreciated assets remain active until a disposal or retirement record supports status change. Do not infer existence from an invoice alone. Preserve register-to-ledger differences as reconciliation breaks.

## Adapt before use

- Add capitalization and depreciation policies.
- Map register, ledger, invoice, disposal, and schedule columns.
- Define review period and materiality threshold.
- Identify ledger accounts included in reconciliation.