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Western Australia to sell off fixed assets amidst economic downturn

Governments frequently rely on the sale of fixed assets to relieve themselves of financial burdens. As fixed assets go, land is one of the most lucrative. For this reason, it is imperative for government organizations to maintain proper documentation of land property using fixed asset management. Most recently, Western Australia's government announced it would sell a number of assets to account for its AU$2.7 billion (about US$2.2 billion) budget deficit, The Australian reported. Among the property slated for sale is the Fremantle Port Authority, renewable energy assets from power companies owned by the state and parts of the vehicle fleet, among other assets,…

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Philadelphia train derailment raises questions about infrastructure

After the derailment of an Amtrak train outside of Philadelphia, experts are questioning whether the disaster could have been prevented with better investment in the transportation infrastructure. Railways represent a significant fixed asset investment, but many believe the government has not been maintaining the system. With better fixed asset management, the government would be able to better gauge the useful life of the railway infrastructure and determine where more investments need to be made. In the nation's capital, members of the Democratic party called for an immediate increase in funding to the Amtrak railway systems, The New York Times reported….

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Using fixed asset management to go green

It's clear how fixed asset accounting helps organizations save money on property taxes and maintain visibility into property. However, most businesses haven't considered how fixed asset management may help their organizations implement environmentally friendly practices. When companies have fixed asset management in place, it is far easier to determine what state assets are in and what could be replaced with more eco-friendly equipment. Sustainability is a hot topic right now among consumers and businesses. As consumers become more conscious about the products they use and companies they support, they may cease to patronize a business that doesn't support environmentally friendly initiatives. Sustainability…

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Established fixed asset management practices before disaster hits

Businesses tend to have more property than they think. Often, it takes a small disaster for business owners to determine what all of their most valuable fixed assets are and begin to replace them. Fixed asset management practices enable companies not only to keep track of their property, but also ensure tax compliance and even save money. When seasonal weather patterns increase the likelihood of business property damage, it's especially important to have systems in place to identify and recover lost assets. For instance, inclement weather in Texas recently left a number of people injured and damaged a lot of…

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Quebec may buy iron mine’s fixed assets

Companies never know when they may have to sell off some of their property for strategic reasons. In this event, fixed asset management can be extremely beneficial. Not only does fixed asset management enable companies to know the value of their land, but it also helps businesses understand what additional property is contained on different land and accommodate for it during a sale. This is an issue Quebec is facing right now as the province considers purchasing certain fixed assets from Cliffs Natural Resources Inc. The iron ore mine is closed, but purchasing its rail line and port may enable the mine…

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