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Corporate Analyst & Consultant Pvt. Ltd. (“CAC”) is a leading management consulting company providing professional services to its clientele since 2012.
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Any business that aims to flourish, the efficient management and tracking of goods and products are paramount. This is where barcode numbering, a technology dating back to the 1970s, continues to stay relevant as a go-to solution for industries, warehouses, and garages. In this article, we will explore what barcode numbering is and why it…
Performing a physical verification of fixed assets is critical for any organization. Regularly verifying the existence, condition, and location of fixed assets is essential. Fixed assets are valuable resources for any organization and must be monitored carefully to prevent loss, theft, or damage. This blog will discuss the steps involved in conducting a physical check of fixed…
In today’s business environment, supply chain management is more critical than ever. It can directly impact your company’s bottom line, affecting both your profitability and your ability to meet customer demands. One way to optimize your supply chain is by streamlining it for maximum efficiency and profitability. Here are a few methods to accomplish this…
Management of fixed assets is essential for firms of all sizes as it helps in effective financial planning, budgeting, and decision-making. It involves tracking, maintaining, and verifying a company’s physical assets. However, the physical verification of fixed assets is complex and challenging. This blog will discuss the significant challenges faced in the physical proof of…
Physical verification is a process that involves verifying the existence and condition of physical assets such as machinery, equipment, and property. Physical verification of fixed assets is critical for businesses to ensure that their financial records are accurate, up-to-date, and compliant with accounting standards. Fixed asset valuation and fixed asset register (FAR) maintenance are also…
Asset fraud has been an issue for many organizations, and it not only leads to financial losses but also erodes the trust of stakeholders in the organization. Physical verification of fixed assets is one of the most effective methods for identifying and minimizing asset fraud. This blog will go through the significance of the physical…
Understanding the ins and outs of the physical verification of fixed assets can be daunting for many businesses. It’s essential to have a good understanding of the process to ensure that assets are appropriately accounted for, tracked, and reported. In this blog post, we’ll look at what physical verification of fixed assets entails and how…
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