An inventory valuation determines the cost assigned to raw materials, works-in-process, finished goods, and any other inventory items. Asset verification services help substantiate a business’s assets on a one-time or ongoing basis. Businesses often need inventory appraisal and asset verification services to meet federal government requirements and the ever-changing regulations in their industries; to secure financing or investments, which would require the verification of their existing collateral; or to meet inventory funding requirements of current lenders and investors.
Types of Inventory Appraisals
EquipNet’s inventory appraisal and asset verification services include bar-coding, software implementation, complex spreadsheet reports and valuation with detailed information for an easy-to-use and adjustable platform. The services can range from a one-time data collection service to an ongoing yearly service contract. Types of inventory appraisals include:
- Furniture fixtures and equipment (FF&E) appraisals and verification
- Bar-coding and tagging of assets with or without valuation
- Implementation of inventory management system
- Asset verification with or without valuation
- Inventory appraisals of stock, products, and goods
Many businesses seeking financing are unaware of the importance of inventory and financial control audits necessary for a bank trying to determine credit quality. This makes it difficult for a lender to evaluate financial risk factors.
EquipNet’s inventory appraisal and asset verification specialists specialize in field audits and financial controls assessments. EquipNet’s services provide:
- Extensive reporting and financial spreads
- In-field interviews and system control assessments
- Dock-to-stock to desktop audits and statistical analysis
- Ongoing monitoring for volatile inventory usage and valuations
- Methods and procedures assessments used in inventory calculations
- Compliance and variance reporting of valuations with impact to collateral