Main menu

ERPCorp SAP FICO Blog

The Basics of Inventory and Physical Inventory in SAP Fixed Asset Accounting

Excerpt from SAP Fixed Assets Accounting (FI-AA) by Jörg Siebert- SAP FI expert, author, and Controlling 2016 speaker.

Objects that no longer exist have no value. Therefore, the existence of fixed assets must be checked by means of an annual physical inventory. The individual objects in fixed assets must therefore be recorded such that they are identifiable.

In Chapter 1, we referred to the inventory—the record (directory) of the 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 chapter we will explain what you have to list in the fixed assets inventory and how to perform the physical check.

Continue reading
  9459 Hits
  3 Comments
Recent Comments
Guest — Ruchi
Thanks for sharing this blog. Keep writing and sharing.
Wednesday, 25 September 2019 05:18
Guest — Sheetal Vats
Great info. Always have questions about this topic. Thanks for sharing this information. it helps a lot.
Wednesday, 09 October 2019 07:44
Guest — We buy houses
Great blog here.. It’s hard to find quality writing like yours these days. I really appreciate people like you.For more informatio... Read More
Saturday, 30 November 2019 04:52
9459 Hits
3 Comments

Controlling 2014 Speaker Profile: Thomas Michael, CEO of Michael Management Corporation

Thomas MichaelThis week we are profiling Thomas Michael, CEO of Michael Management Corporation. Learn more about some of the most important trends that Tom sees in the SAP training space. 

Continue reading
  6823 Hits
  0 Comments
6823 Hits
0 Comments