Board Resolution for writing off Fixed Assets


Board Resolution for writing off Fixed Assets

This is to inform the board that there are number of Fixed Assets which are appearing in the books of accounts but no longer in use because they have become obsolete. Out of these obsolete assets only some assets have scrap value whereas rest of the assets have no resale value. It is proposed to sale the scrape and write off all such obsolete assets from the books (list of assets given in Annexure – A) and make necessary correction in the fixed assets register so that it provide true and fair values of the fixed assets which are physically exists and in use.   

Hence if approved following Resolution may be passed:-

"RESOLVED THAT the amounts noted against each of the fixed assets mentioned below (complete list annexed at Annexure–A) appearing in the books of account of the company as on ________, be and are hereby written off.
S. NO.
Details of Fixed Assets
Value of Assets  as on ................

“FURTHER RESOLVED THAT Managing Director, PACL be and is hereby authorized to take all necessary actions to implement the board decision.”

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