Capital Projects & Fixed Assets
Oversight Systems monitors all of your financial systems in real time to immediately identify mistakes and violations as they occur, so you can resolve issues before they impact the accuracy of your financials and the confidence of your shareholders. This lets you avoid misstating assets or expenses on the balance sheet, and ultimately prevents inadvertent mistakes when reporting net income.
Oversight examines all recorded purchases to distinguish between items that should be capitalized and those that should be handled through the operating budget as expenses:
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Identifies items that should be capitalized, but were not
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Finds items that were capitalized, but should be expensed
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Uncovers items that have been over-capitalized
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Reveals segregation of duties violations within the recording, capitalization and transfer of assets
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Ensures all items are properly approved
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Verifies all items are appropriately depreciated each month or quarter
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Makes sure items transferred throughout the organization are accounted for properly
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Ensures items disposed of or retired are approved and handled correctly |
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