Recent Articles

Improper fixed asset management leads to confusion over land sales

Problematic fixed asset management is causing controversy in the U.K. The government planned to sell its surplus property to build new homes. The goal of the initiative was to create more housing and jobs for U.K. residents. However, the National Audit Office just released a report that questions the validity of the government's claims. Improper fixed asset management could be to blame. Selling surplus land The U.K. government promised to sell surplus fixed assets in the form of public land to enable developers to build starter homes, support job growth and decrease the deficit at the same time. The plan was…

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Governments could reduce debt with better fixed asset management

A recently published book argues that worldwide governments could be using their fixed assets more effectively. Dag Detter and Stefan Fölster, authors of the new book, "Public Wealth of Nations," wrote that if governments find a way to monetize property such as park land, they could reduce debt. According to Business Insider, global public debt amounts to roughly $54 trillion. However, collectively, governments worldwide also possess more than $75 trillion in public fixed assets. If governments managed these assets more effectively, they may be able to eliminate some of their public debt. The authors estimated that generating a monetary return…

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Fixed asset management and property forfeiture

Many companies obtain insurance for their fixed assets in the event of theft or damage, but there are other events businesses may consider. For instance, what happens when the government seizes fixed assets? Companies can secure insurance in the event the U.S. government takes hold of its property. While organizations may believe themselves to be operating fully within the law, this does not always matter. According to the Economist, no conviction is required for civil-asset forfeiture. Without hard proof of illegal activity, authorities can seize property they believe has been obtained or used unlawfully, according to the American Bar Association….

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Fixed asset management useful for intellectual property

Fixed asset management can be important for issues regarding intellectual property, such as patents and trademarks. Intellectual property is considered an intangible fixed asset. While it is not physically owned by a company, it is information that has monetary value and contributes to income tax, according to LexisNexis. It's important to include intangible assets in a fixed asset register. Keeping track of these assets is useful for taxation purposes, and there are other situations where knowing the value of intellectual property comes in handy – for instance, if a company needs to file suit for intellectual property theft. Software company Versata…

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Deadline for SBA Disaster Loan applications coming up

The deadline for U.S. Small Business Association disaster loans is approaching quickly in many regions. After a rocky winter and spring season in which many companies experienced property damage and loss due to inclement weather, organizations now have the chance to begin repairing. Businesses that experienced damage to fixed assets during winter and spring storms can soon apply for relief funds from the SBA. The SBA provides disaster loans for all types of businesses. If a company's fixed assets are damaged in a declared disaster, these organizations can apply for a low-interest loan to repair or replace the property that has…

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