Recent Articles

Retrofitting businesses to prevent weather damage

Fixed asset management can't prevent property damage, but proper accounting practices can help companies avoid financial loss as a result of damage to fixed assets. For instance, when business owners decide to retrofit current constructions to make buildings more stormproof, companies can use fixed asset accounting to determine whether the addition increases the value of the structure. Retrofitting existing structures In areas where inclement weather occurs frequently, many businesses would be wise to improve storm protections on their structures. For instance, in San Diego, 130 home and business owners reported property damage due to significant rainfall, according to local ABC affiliate KGTV….

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Fixed asset management is useful for property sales

Large organizations that need to deal with a significant number of real estate properties can benefit from fixed asset management. After a certain point, it can be difficult to keep track of all of these properties, their acquisitions and sales, as well as depreciation. Fixed asset management software helps organizations better management the movements of these properties. New Orleans recently auctioned 170 adjudicated properties online, allowing the city to raise more than $4 million, local news source The Times-Picayune reported. The properties were reclaimed by the city as a result of unpaid property taxes. This is the second auction the…

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Protecting agricultural assets

For people working in agriculture, protecting assets is a huge responsibility. Tracking and organizing everything they are growing and harvesting, along with animals, real estate and equipment they own, is a complex task. To do all that and keeping those asset's values steady takes an elaborate strategy. The assistance of computer software can be a great help in this manner. Technology has completely changed how agricultural assets are protected and has given greater insight into developing and employing that strategy to make sure everything on a farm is as it should be. A variety of assets Agriculture is big business. In 2013,…

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Confronting theft of agricultural equipment

Agricultural businesses possess many expensive fixed assets that are necessary to produce revenue. Tractors, for instance, are a vital piece of equipment that is frequently stolen. Fixed asset management helps farms and other businesses keep track of this equipment to deal with theft. Rural theft a growing problem In 2014, CBS News reported how crime in rural areas was on the rise, often to feed drug habits. Tractors are especially susceptible to theft because of their high value and because it is difficult to track them down. In an interview, Frank Scafidi, spokesman for the National Insurance Crime Bureau, told the…

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Understanding tax depreciation

A business that manages fixed assets should have a strong understanding of tax depreciation. Knowing how depreciation works can help save a company a great amount of money and be a good way to determine which assets are still working well and which are losing much of their value. Depreciation allows a company to recover costs for the wear and tear an asset takes in work through an income tax deduction. As pieces of equipment began to deteriorate because of heavy use or buildings are no longer needed by a company, depreciation ensures that a business isn't charged the same tax rate…

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