Whether you are a small or a large enterprise, fixed asset accounting is an unusually complex task, always seeming to take more time and dedication than you actually feel it deserves. Inaccuracies and misinterpretations of rules can cause errors that can compound over time, affecting both financial reporting and tax planning. A good comprehensive asset software will lighten the work load and accommodate the unique situations arising in individual companies.
Topics: fixed assets, john shepperson, oates co, asset valuation, easy to use, fixed assets tracking, comprehensive software, ease of use
Posted by John Shepperson | Apr 8, 2014 9:27:00 AM
At first glance, keeping track of the value of your company's fixed assets looks like a simple task. Dig a little deeper, however, over a longer period of time, and you will notice how much your fixed asset values fluctuate. There are a host of factors that contribute to this fluctuation, and you’ll see that sometimes they’re a bit arbitrary – no two categories of assets depreciates at the same rate and even assets in the same categories can depreciate at different rates.
To simplify th
e process of fixed asset valuation, many managers think about assets as having a life cycle, much like that of a frog or a fish. Just like animals have unique life cycles that are shaped by their environments, assets have unique patterns of value and depreciation that are also shaped by their environments.
Topics: Sage, depreciation calculations, fixed assets, sage fas, john shepperson, oates co, life cycle, asset valuation
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