As a crown entity, your school must comply with accounting Standard IAS-16. If you are struggling or don't have the time for this task, we can help you.
Standard IAS-16 required the value of assets within your school to be specified on an asset register and depreciation assessed to reflect the fair value of your school's accounts.
CES can assist your school by undertaking a rigorous asset stocktake to determine the accuracy of your current asset register.
Our process involves visiting your school and physically checking your school assets on-site. We then prepare an inventory and reconcile your register.
Your Asset Register Report
Your school will receive a detailed 3-part report:
- Part 1 Compares assets seen during the stocktake against your previous asset register, described by category, description, and location
- Part 2 Records assets with nil book value, described by category, description, and location
- Part 3 Reports assets that have been recorded on your school's current register, but which cannot be found on-site, or alternatively, assets found that should be included.
The complete asset register report will account for ALL ASSETS in your school - even redundant stock without any book value.
After receiving the CES stocktake report, you will know exactly what is in every part of your school.
Fixed Asset Register
A fixed asset register will help your school to:
- Ensure you have a detailed list of assets for insurance purposes
- Determine that financial reports accurately reflect depreciated asset values
- Fulfill the Ministry of Education's requirement for an up-to-date register
- Give security to the Board of Trustees that assets are correctly valued and recorded
- Assist planning and decision making with clearly detailed information
- Analyse relative performance of assets in terms of cost and usage.
Other Asset Related Services
In addition, CES can provide school asset register videos, maintain your fixed asset register for a low annual fee, provide inventory count/labeling, and barcode systems.
For more information on how we can help you manage your assets call us free on 0800 205 267 or take a look at our asset register brochure.
CES Quick Tips For Schools - Understanding Depreciation
If you've ever had trouble calculating depreciation for your school's fixed assets - this is for you. We cover what fixed assets are, what depreciation is, how you calculate it and key things to remember. Check out the video below.
CES is a school-owned organisation specialising in the provision of goods and services to the education sector.
For more information about the services we provide (including asset management) please visit our website www.cessl.org.nz, call us free on 0800 205 267 or drop us an email at firstname.lastname@example.org.