Recent Articles

Events in San Diego highlight need for fixed asset management

Fixed asset management software provides a way for businesses and organizations to assess property value, which is helpful in situations where severe damage may occur. Fixed asset accounting helps organizations pay appropriate insurance fees so they can recover adequate funds if property is damaged. Inclement weather damage Businesses and organizations in San Diego could have many reasons to implement fixed asset accounting. In late July, the city was hit with severe rainstorms as a result of hurricane Dolores, local public radio station KPBS reported. All together, 130 area home and business owners reported property damage. The government is currently assessing whether…

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Fashion company auctions intangible fixed assets

Fixed asset accounting not only helps companies manage physical property but intangible assets as well. Intangible assets like intellectual property are often among the most valuable assets a business has. It's important to account for intellectual property, especially in circumstances of a merger, acquisition or sale. Clothing company Band of Outsiders is closing its doors after being sold to CLCC SA, a fashion fund based in Luxembourg. The fashion brand turned over its assets to the Belgian company after being unable to make a credit payment exceeding $2 million, Women's Wear Daily reported. The company will put Band of Outsiders' remaining…

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The value of asset protection services

Preparing your business for any potential problems starts with protecting assets. In the case of issues such as a fire or a theft, you will want to know exactly what has been damaged or stolen. From there, you can go about filing insurance claims and begin finding replacements. Before a problem occurs, you can take the step of hiring an asset protection service, which can help your company track and manage everything it owns. For businesses that don't have an internal fixed asset accounting service, hiring an outside organization can be a tremendous help. Encouraging growth The value of an asset…

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Tennessee man pleads guilty to government fixed asset theft

Fixed asset management software is useful for preventing theft, a crime that occurs frequently. Luckily, with the right tools, companies can determine the whereabouts of all pieces of property and track down thefts, should one occur. Recently, Tennessee resident John Morefield pled guilty to aiding and abetting government property theft, according to a release from the Western District of Virginia Department of Justice. Morefield concealed a motor vehicle and backhoe, which he stole from a contractor working on Virginia Creeper Trail. He also admitted to stealing several license plates from a Department of Agriculture vehicle, local Virginia news source WCYB…

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Creating a fixed asset inventory

Every organization should have a fixed asset inventory. The ability to know in detail what they have on hand in terms of property, technology, even furniture  – all of it is vital when analyzing the growth and success of a business. Creating a fixed asset inventory can be complex, as it takes more than just counting the number of boxes in a warehouse. Here are some keys to starting and managing one correctly: 1. Have a place to store it Whether it is through a software program or a traditional filing system with cabinets and folders, a business needs to have…

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