The American Society of Appraisers Machinery and Equipment Committee released definitions of asset value and defining conditions for machinery and equipment appraisers nearly thirty years ago, and these are still used in fixed asset accounting today. Here are some basic definitions to keep in mind: Reproduction cost new: the current cost of duplicating a new [...]

Fixed asset management is essentially a method of tracking inventory throughout its lifetime. Fixed assets can include office equipment, factory equipment and property. The chair you sit on at work is a fixed asset, as is your company laptop and perhaps even the building you work in. To manage fixed assets effectively, inventory tracking must [...]