Fixed Asset Register (FAR)
A fixed asset register is the system of record listing every asset a company owns — its cost, location, depreciation, and current status — used for financial reporting and physical control.
A fixed asset register (FAR) tracks each asset from acquisition through disposal: acquisition cost and date, asset class, location, depreciation method and accumulated depreciation, net book value, and current lifecycle state (active, transferred, disposed, retired).
In India, the register underpins both the Companies Act financial statements and the Income Tax Act return, and is the primary artifact a statutory auditor reviews during CARO physical verification procedures.
How AssetIQ helps
AssetIQ's register maps every asset to Schedule II and IT Act classes natively and stays in sync with physical verification, so the register a CFO signs off on matches what's actually on the floor.
See the Fixed Asset Register module →