Articles & guides

ASC 250-10-50-4 requires disclosure of the effect on income from continuing operations, net income and per-share amounts. IAS 8.39-40 sets the IFRS equivalent.

A change in estimate is prospective; an error restates retrospectively. ASC 250-10-20 and IAS 8 draw the line at whether reliable information was available and used.

A change in useful life is purely a change in estimate. A change in depreciation method is a change in estimate effected by a change in principle under ASC 250-10-45-18.

IAS 16.51 requires residual value and useful life to be reviewed at least at each financial year-end, with changes treated as a change in estimate under IAS 8.

Revising useful life is a change in accounting estimate under ASC 250-10-45-17 and IAS 8.36 — prospective only, no prior-period restatement, gross cost untouched.

Auditors can accept statistical sampling for physical inventory counts under PCAOB AS 2510 and AU-C 501 — here are the six conditions your plan must meet.

Why fixed-asset subledgers drift from reality — unbooked disposals, ghost assets, a register that won't tie to the GL or ERP — and the controller's playbook to remediate it before audit.

Under 2 CFR 200.1, the April 2024 Uniform Guidance revisions raised the federal equipment threshold from $5,000 to $10,000. Here's how to classify equipment vs. supplies and why it changes your property obligations.

What 2 CFR 200.313 requires — property records, control system, and the physical inventory you must take every two years — plus the 2024 $10,000 threshold and how it applies to FQHCs.

2 CFR 200.313(d)(3) requires a physical inventory of grant-funded equipment reconciled to your property records at least once every two years. Here's what that means and how a Single Audit tests it.

2 CFR 200.313(d)(1) requires a specific set of data elements in your equipment property records — description, serial number, funding source/FAIN, title, cost, federal share, location, condition, and disposition. Here's the full list and how to maintain it.

FQHCs and Health Care for the Homeless programs are subject to federal property standards. Here's how 45 CFR 75.320 and 2 CFR 200.313 apply, what's changing in the HHS transition, and how to keep grant-funded medical equipment audit-ready.

The most common Single Audit findings on equipment aren't about misreading the rule — they're execution failures. Here's why organizations get property-management findings under 2 CFR 200.313 and how to avoid them.

ISO 55000, 55001, and 55002 are not interchangeable — only one is certifiable. Here's exactly what each standard covers.

What ISO 55001 requires for asset identification and register data integrity — real clauses, 2014 vs 2024 differences, and where physical verification fits.

Why financial and operational asset registers diverge, what ISO/TS 55010:2024 recommends, and the real cost of unreconciled ghost assets.

The precise clause-by-clause breakdown behind ISO 55001 asset data quality — 2014 vs 2024 editions compared.

Barcode, QR, or RFID — and how to structure functional locations, equipment numbers, and finance asset numbers for ISO 55001.

What ISO 55001 auditors expect as evidence of asset existence and condition — and how clause 8.3 governs outsourced verification.

The difference between Stage 1 and Stage 2 ISO 55001 audits, common asset-data nonconformities, and a practical readiness checklist.

Turn the fixed asset register into a material control for the Provision 29 declaration: ownership, reconciliation and the evidence boards rely on.

How physical verification, floor-to-book reconciliation and ISA (UK) 501 practice build the audit evidence behind a material controls declaration.

A practical guide to assembling the board’s evidence base for the Provision 29 declaration: assurance mapping, dry runs and physical asset evidence.

Provision 29 of the UK Corporate Governance Code frames fixed-asset controls as material controls. See what boards must evidence for the declaration.