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 it possible to create value from what was initially a cost centre.
With the Covid-19 health crisis and the impact of the resulting impairments, the need for dynamic and comprehensive management is all the more glaring. In the end, good management of fixed assets amounts to fair development of assets!
From a financial point of view, asset management records can also facilitate the preparation of company budgets, for example, such as construction, purchasing, and maintenance of goods.
Now, recording the budget will make the company more careful in making decisions to purchase new assets to save expenses. Therefore, carry out regular evaluations to find out more clearly about the value of assets.
With asset management, companies, in general, can reduce expenses and maximize income. So what are the other benefits and more details of implementing asset management for companies?
The first benefit of asset management is that it can keep asset values stable. The reason is that all assets owned by the company have a risk of reducing value in terms of damage to losses.
Well, with asset management, the company’s asset value can remain high even though it is in a bad condition. Every company is required to keep track of its assets. In this way, relevant stakeholders will know which assets are available and what can be used to generate optimum returns.
The benefits of fixed asset management are numerous! To be effective, an asset management plan needs to be carried out under the guidance of CAC’s experts with the ability to look at all angles of available resources.
Companies are required to submit comprehensive reports on how they acquire, use, and dispose of assets. To facilitate the reporting process at this stage, most companies record their asset information in a central database. Thus, they can easily access all the information they need when they need to compile reports at the end of the financial year.
The management of fixed assets is undoubtedly one of the most important aspects of the management of the assets of an industrial or commercial enterprise.
To guarantee the protection of its fixed assets, the company must put in place a reliable internal control system and carry out a periodic physical inventory. You can do this by consulting the expert team of CAC.
The fixed asset managers of CAC collect and analyse data efficiently to make asset management decisions. The consequences of each decision taken with the help of experts then allow an analysis of the profits or losses that can be generated.