Inventory and Physical Inventory in SAP Fixed Asset Accounting

By Joerg Siebert

Objects that no longer exist have no value. Therefore, you must check the existence of fixed assets by means of a physical inventory. The individual objects in fixed assets must be recorded so they are identifiable.

The inventory is the record (directory) of individual asset objects. This directory must report the asset objects present on a specified date. These objects must be determined by a physical check, also known as a physical inventory. The word inventory is derived from the Latin invenire, meaning to find something. In this blog I explain what you have to list in the fixed assets inventory and how to perform the physical check.

This week we are profiling Controlling 2013 speaker Jörg Siebert, SAP FI/CO Specialist and Co-founder of Espresso Tutorials.

How did you get your start with SAP and SAP Controlling? 

When I started my first real job in 1993, I worked for a small software company in Mannheim, Germany.  At that point of time, I had my first contact with business software.  Later on in 1999 when I joined Ernst & Young, the SAP world of Finance and Controlling became my main focus. From 2001 through 2011, I worked for SAP in Walldorf pushing forward with the newest inventions in Finance and Controlling.