Fixed Asset Review & Analysis (FARA)

Implementing a Fixed Asset Review Analysis (“FARA”) may provide immediate tax benefits to your business.

Cherry Bekaert offers six distinct service offerings under Fixed Asset Review Analysis:

  • Unit of Property Determination
    • In the case of a building, each building and its structural components is one unit of property. We can help you determine whether an improvement is to the building or one of the buildings.
  • Production Asset Review
    • With a production asset review, we examine your discrete and major functions to properly define the unit of property for production assets
  • Repair and Maintenance Expense Review
    • We analyze your current year assets to determine if they should be capitalized or expensed.
  • Partial Disposition Analysis
    • Partial disposition analysis identifies old building components or other asset components and determines the undepreciated cost remaining and the deductions for the disposal loss.
  • Identification of Class Life Changes
    • Our analysis of your assets determines the correct class life for your possessions.
  • Identification of Special Purpose Assets