Capital Asset Management Services

Moveable Equipment

Hirons & Associates has assembled a team of professionals with unparalleled experience providing capital asset management and valuation services. With over 100 years of combined experience, we have the knowledge and expertise to provide comprehensive asset management solutions. We are driven by a commitment to building and maintaining long-term relationships rather than short-term profits.

Our capital asset management services assist our clients with external audit requirements, financial reporting, and accountability and control of fixed assets. Our commitment to every client is complete satisfaction, from start to finish.

Our comprehensive moveable equipment services include:

      Developing policies & procedures

      Review of accounting/asset management systems

      GASB 34/35 capital asset consulting

      Comprehensive asset inventory

      Barcode tagging

      Annual updating service (including on-site re-inventories) 

      Capital asset reports to meet the requirements of FASB and GASB 34/35

      Reports provided to meet financial reporting and insurance requirements

HAI’s Methodology

All moveable equipment projects are managed by an experienced member of the HAI team.

Pre-Fieldwork Preparation

Prior to our site visit, our project manager will

·        Confirm the scope of services to be provided

·        Request all codes are to be used (e.g. location, dept, cost center, etc.)

·        Coordinate project schedule and address any potential location accessibility limitations

·        Request any necessary client supplied data (e.g. existing moveable equipment databases, site/building plans, etc.)

On-Site Fieldwork

All on site visits begin with a kick-off meeting with our clients.  We believe the most important elements to successfully completing your inventory project are communication and proper planning.

First Time Inventory:

If HAI is to complete a first time inventory, our fieldwork will begin with a thorough room-by-room inventory to collect/verify all necessary asset data (e.g. location, mfr, model, serial number, acquisition date, etc.). 

Reinventory:

If the scope of the project includes a “re-inventory” or reconciliation to our client’s current inventory:

·   After our first attempt to locate all assets, we will perform a “data match” to verify asset existence and location information.

·   To ensure completeness and thoroughness, we will perform a second sweep to locate those assets not found during the first search.

·   We will work with the client to resolve remaining reconciliation items.

Periodic Updates:

HAI is also capable of maintaining and perpetuating your inventory database with periodic (monthly, quarterly or annual) on-site updates.  These services include:

·   Locating, barcode tagging, and cataloging all newly acquired capital assets

·   Complete updating of our client’s moveable equipment inventory data base with both new acquisitions and disposed of assets

HAI’s Quality Control

HAI is committed to timely delivery, high quality services to all of our clients.  Built-in quality control measures are integral to every project.  We focus not only on thoroughness but on accuracy and consistency as well. 

• Our Project Managers will verify that every room has been visited by an HAI team member by reviewing building and/or site plans.  Additionally, a listing of any rooms unable to be accessed will be provided to our clients for resolution.

• To ensure that all data collected by HAI staff is included in all deliverables, a daily log will be maintained by our Project Manager.  This daily log, which will include daily asset counts, will be made available to our clients upon request and will be compared to the total asset count in final reports to ensure every inventoried asset is included.   

• Back-up data will be stored separately on both disc and HAI servers.

• Bar code tag control procedures ensure that all unused or destroyed tags are accounted for.

• Our Project Managers review all inventory data for accurate and consistent:

• Descriptions/Nomenclature
• Numbering/Coding
• Costs/Values
• Placement of actual barcode tag

The Hirons & Associates team has many skills including certified public accountants (CPA’s) and senior members of the American Society of Appraisers (ASA) with backgrounds in accounting, finance, engineering, construction management and business. Members of our team are recognized as national experts on asset management and the financial reporting requirements of GASB 34/35. We have spoken at various national and local conferences on fixed asset management and GASB 34/35 topics.