Asset register
An asset register is a detailed record of a business’s non-current assets. It commonly identifies each asset, its location, acquisition date, original cost, depreciation method, accumulated depreciation, carrying amount and disposal details. It supports safeguarding, depreciation calculations and reconciliation with general ledger balances. Physical inspections help establish whether listed assets still exist and remain in use.
Worked example
A van’s register entry records its identification number, $24,000 cost, purchase date, estimated life and depreciation charged to date.
Common mistake
The register supports the accounts; keeping a register does not replace double-entry postings or prove the assets are physically present.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | F1 | Direct | July 2027–August 2028 |
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | K1 | Direct | July 2027–August 2028 |
| FIA | FFA | Direct | September 2026–June 2027 |
Related terms
Also called: Non-current asset register, Fixed asset register