Category: Fixed asset management

Warren Township fired department replacing damaged fixed assets

Protecting fixed assets needed for business purposes should be a top priority for any organization. Without these tools, it can be virtually impossible to accomplish tasks and meet goals. As a result, having an asset management program in place is a sound strategy for any entity that relies on certain tools in order to get things done. According to a C&G Newspapers report, Warren Township, located in suburban Detroit, is still reeling from a major flood that caused millions of dollars in damage to commercial, public and private property. The Warren Fire Department lost critical emergency management tools needed to…

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The ideal times to use straight-line depreciation

Various fixed assets require different means to deliver the most value to a business in terms of taxes, resale and contribution to overall net worth. Seemingly minute differences in how a company decides to calculate depreciation can have a great impact on its overall financial health. For many businesses, the use of accelerated depreciation is effective, as it gains the highest value out of the process in case they need to resell or invest in better infrastructure at more frequent intervals. However, there are some assets where that would be not particularly effective, and that is when the more traditional approach of straight-line depreciation…

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Implementing different inventory systems

The key component of fixed asset management is the inventory system. How properties, machinery and furnishings are identified, cataloged and mapped can make a major difference in how a company conducts its operations. Knowing where the right equipment is at any time is an essential, especially on important projects. Being able to maintain a strong inventory can keep things running smoothly and improve efficiency and productivity at a basic level. However, there are different ways to inventory these items, and these should be taken into consideration as the business grows over time. Whatever choice is made, with flexible asset inventory software,…

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How a blizzard can affect physical asset use and recovery

This past week, a major snowstorm blanketed the northeastern United States, covering an area from New Jersey to Maine. While New York City was spared the worst, other metropolitan areas including Boston and Providence, Rhode Island, were hit hard with 24 inches of snow or more, as reported by Boston.com. Many businesses were closed due to travel bans on major roadways. While snowstorms have less immediate impact on fixed assets, businesses should still be taking great care that these properties don't get damaged as a result of severe weather. Making sound asset decisions is also important as well, both at the business…

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NFC: The future in asset tracking?

Tracking fixed assets is an essential in any business. There are a lot of things that can happen to them, especially if they're mobile equipment that can be used anywhere on company property. Having proper and secure tags is a must, especially when conducting inventory or searching for essential items that are needed for an event or for specific projects. As a consequence, new advancements in tagging technology are greatly appreciated. One particular item has been picking up speed due to its connection to smartphones, tablets and other mobile devices. This process is called near-field communication, and it has a…

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