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ANNEXURE BSNL

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ANNEXURE BSNL Powered By Docstoc
					CORPORATE ACCOUNTS SECTION,
Bharat Sanchar Bhawan , 1st Floor
Harish Chandra Mathur Lane, Janpath
NEW DELHI – 110 001 .
TEL: 23734110, 23734164 (fax)

                                                                                     ANNEXURE ‘C’
                                                                              To circular no.CA-240
No. 700-65/2008-09/CA I/BSNL                                 Dated at New Delhi 15th November 2010

                 INSTRUCTIONS FOR PHYSICAL VERIFICATION OF FIXED ASSETS
      The Management of BSNL has prescribed the following instructions regarding
physical verification of fixed assets of BSNL. All the Circles and Units of the Circles must
observe and act according to the instructions as mentioned below:
1.     Instructions issued through Circular No. 132 (No. 500-31/2006-07/CA I/BSNL/Vol. III dated
   th
17 April 2008) regarding physical verification of Fixed Assets shall be referred. The Heads of
the Territorial Telecom Circles and two Metro Districts will nominate an officer in the rank of PGM /
GM preferably the PGM / GM of Operation wing of the Circle as nodal officer of the circle, for
overseeing the physical verification of Fixed Assets pertaining to all the verticals of the Circle. In
case of non-territorial circles the Chief General Manager of such Circles will nominate an officer in
the cadre of SAG or an officer of the circle in cadre of JAG in case SAG officer is not available in
the circle, as Nodal Officer of the Circle for overseeing the physical verification of fixed asset of
the circle. The Nodal Officer so nominated for physical verification of fixed asset of the
Circle will constitute sufficient number of physical verification teams for the Circle. Each team
will consist of three to four officers of the circle, out of which two officers will be other than the
custodian of concerned fixed assets, which will be verified.
2.     The Heads of the Circle shall issue orders regarding nomination of the Nodal Officer of the
Circle and formation of physical verification teams of the Circle for physical verification of fixed
asset. The order must contain the following:
(a) name & designation of the officer nominated as Nodal Officer of the Circle for physical
    verification of assets
(b) name & designation of each officer included in each team for physical verification of fixed
    assets
(c) details of the fixed asset to be verified by each team
(d) time frame within which physical verification of assets shall be completed by each team
(e) date of submission of physical verification report by each team in the prescribed Format to the
    custodian of fixed assets and its accounting unit
(f) time frame within which discrepancy if found during physical verification, is to be settled by the
    respective custodian of assets and its accounting unit
(g) date of submission of physical verification report by the custodian of fixed assets and its
    accounting unit to the Nodal Officer of the Circle.
3.    The exercise regarding nomination of Nodal Officer and formation of physical verification
teams of the Circles shall be completed by the Circle Authorities within 1st week of December
every year. The Nodal Officer shall give the copy of the order mentioned in Para 2 above to the
Branch Auditor of the circle.
4.      The Nodal Officer will chalk out a programme of physical verification of fixed assets in such
a way so that all the Fixed Assets of the Circle whose quantitative and other details are reflected in
the Fixed Asset Register and whose value details are reflected in the accounts i.e. in the Trial
Balance of the Circle under various accodes of 105, 106, 107, 405 schedules, are physically
verified by the physical verification teams of the circle in a block / cycle of two years. The Nodal
Officer will decide which items of fixed assets will be verified in 2010-11 and in 2011-12. The Fixed
assets, which are physically available, but either the same are not reflected in the Fixed Asset
Register or their value is not reflected in the accounts of the circle under various accodes of 105,
106, 107, 405 schedules, shall also be physically verified by the physical verification teams and the
details of such fixed assets will be reflected in the same physical verification report as per
prescribed format mentioned in Para 6 below. The Nodal Officer shall furnish the details of physical
verification programme and fixed assets to be verified in 2010-11 & in 2011-12 to the Branch
Auditor of the Circle.
5.     The Heads of the Circle and Nodal Officer of the Circle must ensure that the physical
verification of fixed asset is completed by the 1st Week of April.
6.     The details of physical verification of assets shall be kept in the Proforma already prescribed
and circulated through Annexure ‘A’ of Circular No. 132, however the copy of which is again
enclosed as Proforma ‘A/E’. The Custodian of Fixed Assets and its accounting Unit must
furnish/record the detailed data of fixed assets to be verified as reflected in the Fixed Asset
Register and accounts i.e. Trial balance, in the concerned column of Proforma ‘A/E’, authenticate
such entries made by them in the concerned column of Proforma ‘A/E’ and hand over the
completed Proforma ‘A/E’ to concerned physical verification team of the Circle on the date fixed by
the Nodal Officer of the Circle. The members of physical verification teams shall be responsible to
furnish/record the details of assets physically available, in the concerned columns of Proforma
‘A/E’ and must authenticate such entries made by them in the concerned columns of Proforma
‘A/E’.
7.     The physical verification teams must submit the complete details of physical verification of
fixed assets of all the units of Circle as compiled in Proforma ‘A/E’ to the to the Custodian of
Fixed Assets / its Accounting Unit of the Circle within the 2nd week of April.
8.      The custodian of concerned Fixed Asset and its accounting units must settle all the
discrepancy as reflected in the physical verification report and incorporate the adjustments for
settling the discrepancy, in the accounts of the same financial year i.e. in the accounts/trial balance
of the financial year for which the physical verification has been conducted. The custodian of fixed
asset must note the adjustment particulars regarding discrepancy in the concerned column of
Proforma ‘A/E’ and authenticate such entries made in the concerned column of Proforma ‘A/E’.
9.      The custodian of fixed assets and its accounting unit must submit completed Proforma ‘A/E’
(all the columns duly filled in and authenticated) along with the details of adjustments regarding
discrepancies as reflected in the physical verification report, to the Nodal Officer of the Circle
within 30th April.
10.    The Nodal Officer of the circle shall be responsible to submit the physical verification
report of assets of the Circle as a whole in the Proforma ‘A/E’ complete in all respect (all the
columns duly filled in and authenticated by the respective authority as mentioned above) to the
Branch Auditor of the Circle.
11.    The Nodal Officer, the physical verification teams and the concerned custodian of fixed
assets and its accounting unit shall remain responsible to answer any quarry of the Branch Auditor
regarding physical verification of fixed assets and also to set right discrepancies pointed out by the
Branch Auditor regarding physical verification of fixed assets.

Enclo: Proforma ‘A/E’




                                                                                     (Arundati Panda)
                                                                                         Sr. GM (CA)

				
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