CAPITAL ASSET REVIEW AND EVALUATION SERVICES
MARSHALL S TEVENS
According to an article in The CPA Journal, historically, a range of 15 to 25 percent of tangible personal property costs needs to to be removed from a company’s property record in order to expunge ghost assets. The Capital Asset Review & Evaluation Services (”CARES”) solution is a service provided by Marshall & Stevens experts to assist our clients with optimizing and enhancing asset management and fixed asset records. The policies and procedures we incorporate ensure collection of data is accurate, asset records are cleansed, and property records are complete and updated.
BENEFITS: • Supports management’s statements of establishing and maintaining adequate internal control over financial reporting (Sarbanes Oxley Compliance) • Identifies Property Tax saving opportunities • Provides accurate fixed asset data • Reduces insurance premiums • Identifies and eliminates non-existent assets and optimizes return-on-asset ratios • Reduces the need for property management workforce
USERS OF THIS SERVICE: Public Companies Sarbanes-Oxley currently applies to public companies that are registered with the Securities and Exchange Commision. Section 404 requires maintaining accurate financial reporting standards including capital assets. Private Companies Although private companies are not required to comply with Sarbanes-Oxley, there are excellent reasons for them to consider its implications. Any private company that aspires to go public will become subject to the act upon filing a registration statement with the SEC in anticipation of an IPO. Additionally, any company that might be acquired by a public company or that has a signifcant business partnerships with a public corporation will need to assess the impact of Sarbanes-Oxley on future and current business relationships. Capital intensive, acquisition oriented, or renovation intensive businesses benefit from updated fixed asset records aiding in planning, financial management, asset management, insurance, and tax reporting.
RECENT EXPERIENCE • • • • •
LOS ANGELES
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NEW YORK
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Dial Corporation K-Mart Corporation Oregon Steel Company Ralcorp Corporation Subaru-Izusu Corporation
PHILADELPHIA
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CHICAGO
www.marshall-stevens.com
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Gap Corporation Pinnacle Entertainment Phillips Plastics Corporation Station Casinos
ST. LOUIS
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TAMPA