Why is an updated asset register important in financial accounting view?

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Because of following reasons an updated asset register important in financial accounting view

• This will help in physical verification of assets for both Accountant and Auditor.
• This will help to calculate the depreciation, according to Assets register depreciation chart is updated.
• This will help to see the actual life of assets which can not e seen from system.
• This will help to report for theft or loss of an assets immediately.
• In a big organisation with multiple location its very easy to find asset location.
• The Accountant can easily report to management about any doubt or information in regard to assets.
• In case of sale or purchase of entire business the assets register will help to transfer or shift assets from one ownership to other.

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I'm fully agree with Mr. Anil answer.

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Thank you for your kindness invitation. I agree with all previous answer

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