It’s important for your company to have a successful fixed asset tracking system in place for a variety of reasons. Accurate, timely records relating to fixed assets are required for your balance sheet to offer a precise reflection of your company’s finances, and are also helpful in terms of inventory tracking, depreciation and theft prevention. [...]

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The fixed asset life cycle can be split up into three stages – acquisition, implementation and disposal. The period of time between acquisition and implementation can be brief or more extended, depending on the nature of the assets in question. Some fixed assets, such as computers and desks, take little to no time to set [...]

Depreciation and amortization are both methods used to prorate costs associated with assets over their projected lifespans. Both are calculated by subtracting the asset’s salvage value from its original purchase cost. Salvage value is essentially the estimated value that the asset is expected to realize upon its sale at the end of its useful life. [...]

Your company’s year-end report is the most important financial statement of them all. Simply put, your annual report provides a comprehensive level of insight into your business’ activities and financial performance for the past fiscal year. Tax preparation, decision-making and future reference are based more on end-of-year reports than any other financial statement, so it [...]