admin http://kastechng.com Fixed Asset Professional and IT Consultant Thu, 10 Dec 2020 08:44:10 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.19 http://kastechng.com/wp-content/uploads/2020/12/cropped-logo-kas-32x32.jpg admin http://kastechng.com 32 32 Warranty & Service http://kastechng.com/2020/12/10/warranty-service/?utm_source=rss&utm_medium=rss&utm_campaign=warranty-service http://kastechng.com/2020/12/10/warranty-service/#respond Thu, 10 Dec 2020 07:56:33 +0000 http://kastechng.com/?p=273

Warranty & Service

Warranty and services support to the very highest levels are key factors of all major barcoding projects and integrated applications.

Kastechnologies has unsurpassed knowledge of management techniques as solution provider of auto identification and offers multi- level, end- user support to numerous blue-chip clients on our physical asset and tracking software (Asset Performer) and barcode software (Easylabel)

A quick and effective response to product performance issues is integral to minimizing customer downtime and therefore gives enhanced return-on- investment time scales for every project planned, implemented and supported by Kastechnologies.

 

Our Knowledge Management Techniques is truly a practice or discipline that involves people, processes, and technology.

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Software & Integration

To fully realize the potential of a barcoding project, having the right software is paramount. Standard software can be ideal, but where the demands of the project exceed the scope of standard packages, the company’s software development teams are available, from analysis through development and documentation to deployment and support.

Kastechnologies has the expertise for all levels of development, from solutions involving database applications running on a handful of desktop PCs, through to development of a full -scale client-server or multi-tier system.

We have been able to implement our world-class fixed assets tracking software for many multinational firms and banking industry in Nigeria

]]> http://kastechng.com/2020/12/10/software-integration/feed/ 0 Asset Certification http://kastechng.com/2020/12/10/asset-certification/?utm_source=rss&utm_medium=rss&utm_campaign=asset-certification http://kastechng.com/2020/12/10/asset-certification/#respond Thu, 10 Dec 2020 01:46:18 +0000 http://kastechng.com/?p=186

Asset Certification

We consistent assist organization for certification of qualifying capital expenditure on fixed assets for capital allowance claims.

Our services include assets and cost reconciliation. We have rich experience to process and obtain Acceptance Certificate from Federal Ministry of Trades and Investments (Inspectorate Department) at Abuja, for the purpose of claiming Capital Allowance for your organization.

 

 

We list below few of the factors, which can impede employing your personnel for the daunting task:

  • Bureaucratic bottleneck as an incidence of the number of companies and equipment lessors.
  • Technicalities in the valuation of the assets before certification
  • Complexities encountered in the enumeration of physical development (land and business) and movable assets
  • The enormous cost outlay, logistics and the need for the optimum use of personnel

We will utilize our expert Cost Accountant and Construction Engineers in the pre-evaluation cost analysis. Secondly our continuous presence in the ministry guarantees obtaining the certificate on a record time.

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]]> http://kastechng.com/2020/12/10/asset-certification/feed/ 0 Asset Disposal http://kastechng.com/2020/12/10/asset-disposal/?utm_source=rss&utm_medium=rss&utm_campaign=asset-disposal http://kastechng.com/2020/12/10/asset-disposal/#respond Thu, 10 Dec 2020 00:16:26 +0000 http://kastechng.com/?p=124

Asset Disposal

100%

We have expertise to handle Asset Disposal of all types of properties including Plant & Machinery, Land & Buildings and other fixed assets for all purposes that are in Excess, Obsolete, Worn, Damaged and Scrap fixed assets.

  • Excess fixed assets are items that are no longer needed but are still serviceable or useable
  • Obsolete fixed assets are items that are no longer meet the bank specifications or requirements but are still serviceable or
  • Worn fixed assets are items that may still be operable but require excessive maintenance or repair (cost, manpower) to remain in an operable
  • Damaged fixed assets are items that are not operable due to damage or accident and would require excessive repair (cost, manpower) to return the asset to serviceable condition
  • Scrap fixed assets are items that no longer function, are unserviceable and have no market value except for their basic material content

For the purpose of these exercise, we would assist your firm to determine under which of the above the fixed assets to be disposed are classified.

]]> http://kastechng.com/2020/12/10/asset-disposal/feed/ 0 Asset Valuation http://kastechng.com/2020/12/10/asset-valuation/?utm_source=rss&utm_medium=rss&utm_campaign=asset-valuation http://kastechng.com/2020/12/10/asset-valuation/#respond Thu, 10 Dec 2020 00:05:06 +0000 http://kastechng.com/?p=112

Asset Valuation

100%

We have expertise to handle Asset valuation of all types of properties including Plant & Machinery, Land & Buildings and other fixed assets for all purposes e.g. Insurance, Compensation, Open Market Value, Going Concern, Business Mergers and Acquisition, Commercialisation and Privatisation.

  • Balance Sheet and Accounting Purpose: – Fixed assets are normally depreciated in the books of account with the result that values often shown against fixed assets in the company’s annual balance sheet are grossly unrealistic. In order to ensure that financial statement reflect the true worth of business organisations, professional valuations of the fixed assets of companies are carried out

 

  • Insurance: – Professional valuation may also be carried out for insurance purposes. This is to advise the insurer and the insured alike on the worth of the property concerning the risk it is exposed to. Such risk includes natural disasters like rainstorm, earthquake, fire etc. The objective is to ensure that insurance policy coverage is adequate.
]]> http://kastechng.com/2020/12/10/asset-valuation/feed/ 0 Asset Verification & Reconciliation http://kastechng.com/2020/12/09/asset-verification-reconciliation/?utm_source=rss&utm_medium=rss&utm_campaign=asset-verification-reconciliation http://kastechng.com/2020/12/09/asset-verification-reconciliation/#respond Wed, 09 Dec 2020 23:30:14 +0000 http://kastechng.com/?p=82

Asset Verification & Reconciliation

100%

We advise and assist organizations in carrying out assets inventory and electronic verification using our Laser Barcode Scanner. This involves identification of all assets of the organization taking into cognizance, its location, quantity, quality, year of purchase, codifying and computerized indexing of assets.

We consistently reconcile the physical fixed assets with the existing asset register, this enable us to know what is on ground physically that is not missing in the asset register and what is in the asset

register that is not physically found on ground and produce a consolidated fixed asset register for your organization to ensure proper planning by the management.

With the present countdown on IFRS implementation, it has become pertinent for Companies to ensure that adequate records of Property Plant and Equipment (PPE) are maintained in the form of properly updated Fixed Assets Register (FAR) which should give information about relevant assets regarding age, cost, location, depreciation, book value, maintenance history etc. In the same vein, adequate records of stores and spares are required in order to ensure proper implementation of International Financial Reporting Standards (IFRS).

Apart from IFRS compliance, it is statutorily required by the Companies and Allied Matters Act that Companies should maintain Fixed Assets Register and there are penalties in the Law for non- compliance.

Even if we disregard compliance with legislation and standards, a Company is bound to reap bountifully from the maintenance of adequate FAR and some of the benefits derivable are:

 

  • Ability to keep track of details of each fixed asset with the aim of ensuring control and preventing
  • Proper monitoring of correct values of fixed
  • Forecasting profits and cash flow regarding maintenance of assets, upgrading assets and replacement of assets
  • Accurate computation of depreciation for financial
  • Provision of appropriate information for taxation and insurance
  • Prevention of depreciating fully depreciated fixed
  • Calculation of annual depreciation
  • Required information to aid the accounting and taxation treatment of disposal can readily be obtained.
  • Used as a tool to stay on top of and try to prevent theft of assets
  • Possibility of monitoring maintenance

 

As can be seen from the few examples above, benefits derivable from maintenance of Fixed Asset Register (FAR) are enormous and our Firm is prepared to partner with your Company towards ensuring proper implementation of this vital record. Our track record and experience in handling of similar project in manufacturing concerns and other operations will be of immense assistance in this respect.

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