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What is good management of assets? How will it affect your business? Do you need fixed asset register (FAR) maintenance services? Well, we will go by parts. Properties, plants, and equipment all these things remain active in a company, the latter is also used in the production of both goods and services. If you have the correct…
The global goal of the accounting policy of any enterprise, regardless of the form of ownership and structural subordination, is to provide an opportunity for the management of the enterprise and its owners to objectively assess the assets and liabilities of the enterprise. Fixed assets occupy a prominent (usually the most important) place in the…
Many benefits are there in conducting asset revaluation, Namely: Showing a Reasonable Wealth Position The major purpose of asset revaluation is to provide a true value to the company’s assets. Thus, the value of assets recorded in the financial statements will represent a fair value. Asset revaluation will also be very important for companies that…
Broadly speaking, asset management refers to any system that monitors and maintains anything of value to an entity or group. This management applies to both tangible assets, such as buildings, and intangible assets, such as people, intellectual property rights, goodwill, and financial assets. Asset management is a systematic process to develop, operate, maintain, and increase…
A fixed assets register is a list of all the assets held by a company that is intended to be used for business purposes and have not been sold off for profit. Such an item is required by law for some companies for tax purposes. Keeping a fixed asset register includes collecting detailed information about…
Fixed assets represent an important part of the balance sheet, and their monitoring is, therefore, a major issue for companies. From purchase to disposal, a company needs to master the accounting treatment, monitoring, and management of these fixed assets. Fixed assets are at the heart of the company’s accounting and financial management. Efficient management makes…
Most companies have a wide range of fixed and liquid assets, so cost-effective implementation, management, maintenance, upgrading, and disposal of assets are essential to achieve the highest possible return on investment. In addition, there are now new opportunities to significantly improve resource reliability and efficiency through the use and availability of connected devices, sensors, large-scale…
Over time, your business will experience ups and downs and developments. Especially if your business has been running for many years. This of course has an impact on the value of assets related to the business you are in. For this reason, it is necessary to evaluate the fixed assets owned by the company or…
In accounting, fixed assets come at historical cost. Over time, the value of assets changes, therefore, for the valuation of fixed assets, replacement or residual values are used. Fixed assets are used for a long time and their cost can significantly affect the indicators of the financial condition of the enterprise. However, due to inflationary…
Fixed assets are an accounting item. It is a term for the things that are invested in to run a business. It can be anything from a car to office furniture or a patent. In order for an asset to be described as a fixed asset, it must have an expected useful life of more…
