The non-current asset register is the subsidiary ledger detailing the individual items of plant and equipment. The register records the cost of each asset and of any additions or alterations and the accumulated depreciation charged against it. Balances in the register reconcile with the written down value of the plant and equipment account in the general ledger.
The following are advantages of non-current asset register:
- It shows inventory, identification numbers, locations, improvement cost, manufacturers, contractors and depreciation rate
- Helps to carry out routine and regular inspection of the MMDA’s assets
- Helps to conduct property audits and ensure regularization of title to MMDA’s Landed property.
- Preparation of budgets for repairs and construction of MMDA’s property.
- Development of manuals as a guide to management and employee actions
- vi. Preparation of bid documents and evaluation
- vii. Participation in the development and acquisition of physical assets.