Category: Accounting software and technology

Unicorns need to patent and track intangible assets

Innovation is a powerful trend in modern business. Standard practices have always given way to new ideas, but modern technology and a global culture provides platforms for small businesses to skyrocket overnight. The term unicorn is Silicon Valley jargon that describes a startup valued at more than $1 billion, according to Chicago Business Journal. The most common types of unicorns in today's world come from software, Internet and e-commerce industries. A small team of individuals may develop a new program or way of utilizing technology consumers instantly respond to. Success can happen so fast, businesses have to be careful they…

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3 ways to ensure green business asset implementation success

Going green can be a major investment for a company. Trading in outdated equipment for eco-friendly options and bringing in green tools means a company spends a lot of capital on fixed assets that have to serve a dual purpose. Managers must ensure the new assets successfully contribute to business activity and reduce the organization's negative impact on the environment. Whenever a company invests in fixed assets with specific goals, charting expectations and daily performance provides insight into implementation. Companies should use these three asset management strategies to create a greener and more efficient office: 1. Make informed decisions on new…

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Crowdfunding assets: Business goals that show results

Online crowdfunding is a relatively recent strategy for entrepreneurs to raise money for their small business. Many startups turn to Internet audiences to provide capital for new ideas or early expansion. Entrepreneur magazine said the crowdfunding projects most likely to reach their goal are the ones that provide potential donors with results. A business needs to show people where their money goes and offer them real proof of success. Instead of vague businesses plans, companies should crowdfund for specific assets to create projects with goals online investors can see. Crowdfunding tangible assets The simplest way to create a specific goal for a…

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Asset tracking helps steer cattle management

The depreciation of a fixed asset can be difficult to track if a business wishes to go beyond standards and closely account for actual wear and tear of equipment. The cost to maintain, fix and salvage equipment could create numerous data records accountants must detail in company documents. A centralized fixed asset solution can help businesses keep up with data by providing a singular truth for accounting practices. Employees can log every asset activity and update users on changes. One asset that could experience a variety of outside factors that may speed up or alter depreciation is livestock. Tracking unpredictable businesses…

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Measuring the effects of cybercrime on intangible assets

If someone steals a company laptop, the employee will realize it is gone when it is missing from its assigned physical location. The business should know how much the computer cost and how much the organization has to spend to have it replaced. Unfortunately, calculating the losses associated with stolen intangible assets is nowhere near as straightforward. When managers or employees realize their intangible assets were the victims of cybercrime, they need to discover what was lost and the financial cost to the company. There are many different types of fixed assets, and there is no one formula for how…

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