How fixed asset increases the sustainability of the company
AuthorShoily, Sifat Khandaker
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The telecommunication sector of Bangladesh has been booming with the current six compa-nies that are operating. The telecommunication sector of Bangladesh commenced with small steps in 1989 when the license to a private operator was issued for the provision of inter alia cellular mobile services to strive with the previous monopoly provider of telecommunications services, the Bangladesh Telegraph and Telephone Board (BTTB). In the late 1990s, remark-able number of fixed and mobile services made their mark in Bangladesh. Thus, the number of services in operation has increased in the past fifteen years. Undoubtedly, the measures taken by the government and public sector have facilitated to grow this sector. Bangladesh, a highly populated market has attracted many foreign investors to invest in this sector. Fixed assets are very important for the business. Well we can say that without a fixed asset a company cannot physically exist. Fixed assets help a businessman to perform his activities and duties in the best way. Varieties of fixed asset make a businessman versatile in every ac-tivity of business. In 2015, Banglalink undertook a project on the fixed assets verification, which was mainly comprised of the physical assets verification of the company. Banglalink being a telecommu-nication company, its main fixed assets are the BTS (Base Transceiver Station) equipment that is situated on different regions across the country. This verification or auditing of fixed assets was previously done by a third party auditor. PITS (physical inventory taking sheets) consists the numbers of the physical assets that were visually seen on the sites. The PITS was a hardcopy done by the auditors manually by visiting every single site. This had to be com-pared with the softcopy document FAR (fixed asset registrar) which was a spreadsheet doc-ument containing all the lists of the physical assets along with the numbers of the assets that should have been on the sites as those were purchased.