Recent Articles

Auto thieves targeting vulnerable car rental and auction businesses

Almost any company can be a victim of fixed asset theft. No matter the business, when valuable items are taken, it can pose an operational nightmare for business functions. Not only does the process of filing insurance claims come into play, but items must be replaced, incurring an additional cost for the business that ultimately takes revenue from the bottom line. This highlights the importance of organizations to implement a strong asset management program to protect themselves from suffering losses of material investments. Car rental companies are becoming the frequent targets of organized gangs of automobile thieves, according to Government Security News. These…

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Construction prone to fixed asset theft

No company is immune to having its fixed assets stolen. This is why many organizations have established asset management programs to monitor and keep track of the materials they own. However, construction is the one industry that is especially prone to theft of valuable tools and equipment. Oftentimes, work sites are left unsecured. This presents a prime opportunity for thieves to come in and take whatever they want. Typically, contractors and business owners don't realize fixed assets have been stolen until the day after the theft has occurred. This can be detrimental for many projects, as decision-makers have to scramble to find replacements, which…

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Boise State University rents outdoor equipment to students

When companies purchase material items for business purposes, the most sobering reality is that any fixed asset can become lost, damaged or stolen. The financial implications for each are severe, considering that the cost to repair or replace items will likely be absorbed by the consumer in a number of situations. For many organizations, this is standard operating procedure and also one of the primary reasons why a fixed asset management program is so vital. Purchasing items that are used to help a company generate revenue is an important expense. Any company is at risk of not having its valuable fixed assets available…

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What is depreciation and how is it calculated?

When a company has fixed assets that are used for daily operations, the depreciation of these items must be tracked. At some point in time, extended use of these material investments will bring their overall value down. It is at this point that a decision must be made to either make repairs or upgrade assets to newer models. Keeping a watchful eye over the value of fixed assets is an important business practice. Failure to do so can result in lost revenue or hurt the company's reputation. This is why it is important for companies to always track the depreciation of fixed assets. What is depreciation?…

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ADM establishes global headquarters to Chicago

There are a number of reasons for a company to implement asset and inventory tracking software. However, this kind of solution is invaluable when an organization moves its central office from one location to another. Archer Daniels Midland Company is an agricultural processing organization that established its roots in Decatur, Illinois, in 1939, according to The Quad-City Times. Thirty years later, ADM made the decision to move its research labs and corporate headquarters to Chicago. In that time, the company has grown to an operational staff of roughly 31,000 workers all over the world, with regional offices established in Shanghai, China,…

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