Identifies and keeps record of company owned or leased equipment, buildings, and other property: Records description, value, location, and other pertinent information of each item.
Conducts periodic inventories to keep records current and ensure that equipment is properly maintained. Distributes cost of maintenance to proper accounts. Examines records to determine that acquisition, sale, retirement, and other entries have been made. Prepares statements reflecting monthly appreciated and depreciated values. Summarizes statements on annual basis for income tax purposes. Prepares schedules for amortization of buildings and equipment. Develops and recommends property accounting methods to provide effective controls.
