Definition
A ghost asset is an item that still appears on the books or register but cannot be found during physical verification — or the reverse: equipment on the floor with no trustworthy record. Ghost assets inflate cost, break depreciation, and turn audits into reconciliation projects.
Also called Phantom asset
How ghosts form
Moves without custody updates, incomplete disposal, and parallel spreadsheets are the usual causes. Continuous reconciliation shrinks the problem before year-end.
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