Railway Accounts Department Examinations

Showing posts with label Assets Register. Show all posts
Showing posts with label Assets Register. Show all posts

Monday, September 17, 2018


General Expenditure paper - 2006 (WO) -5 marks
(Important short notes question for GRP & General Expenditure paper)

v  Para No. 1720 of Engineering Code

v  All assets valued over and above Rs.20 lakhs should be entered in Assets Register.

v  Assets Register should be maintained in Form No.1720 of Engineering Code.

v  The information will be posted from CRs - Completion Reports.

v  Types of Assets:  Track,  Buildings,  Rolling Stock,  Machinery,  Bridges,  S & T equipments,  Medical equipments  etc.        

v  In the case of buildings, the information will be docketed in the Building Register in form No. 1977 of Engineering Code.

v  The completion Reports (CRs) of the said works need not be preserved, once the information is docketed in the Assets Register or Building Register.

v  However for works which are costing less than Rs.20 lakhs, the sanctioned CR - Completion Report and Completion Estimate should be preserved for a period of five years.

v  When the project is executed by the Construction organization, the Assets Register will be handed over to Open Line organization (as part of handing over records) for retention as a permanent record.         

v  Total value of Assets as on 31.03.2015 - Rs. 4.31 lakh crores.

                                                                                      Form E. 1720
1.         Name of work
2.         Date of commencement
3.         Date of completion
4.            Completion report No. and date.
5.            Authority sanctioning the completion report.
6.            Completion cost.
 Note-The completion cost will indicate the break-up of cost sub-work/sub-estimatewise. Total.
7.                  Investment Schedule 
Amount of investment



....................                                                            .........................
Accounts officer                                                             Divisional Engineer
Imp Note:  So far, Balance Sheet shows Assets at their original cost in Balance Sheet ( Instead of Depreciated value).  As part of Mission beyond Book Keeping, Railways has taken up a project on Accounting Reforms duly restructure the Asset Register as per norms of Commercial Accounts (duly deducting the depreciation from the original value of Assets) is on the way in order to arrive opening balances.