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Fixed Assets Management Solutions

FIXED ASSET MANAGEMENT CHALLENGES

There seem to be many more challenges when larger organizations have or are going to rationalize their fixed asset management. Usually, the spread sheets fall short while attempting to get accurate data at one place. To overcome this, Automation with an integrated solution is the best thing that can be done for fixed asset management. Mostly, businesses with […]

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Physical verification of Fixed assets

Physical verification of Fixed assets: Every organization must ensure that they efficiently use the resources without much affecting the quality and quantity. This has been one of the top most priorities for the Finance and Admin teams as they are the caretakers of resource management. Asset verification is such time taking process, as well it […]

fixed asset

Fixed Assets

Fixed Assets What is a ‘Fixed Asset’ ? A fixed asset is a long-term tangible piece of property that an organization owns and uses in the production of its income and is not expected to be consumed or convert into cash any sooner than at least one year’s time. Fixed assets are sometimes collectively referred […]

Fixed Asset Accounting- Tracet

Fixed asset Accounting under IFRS

Fixed asset Accounting under IFRS Fixed assets can be classified basically in to two categories i.e tangible & intangible, Under IFRS , IAS-16 –Property, Plant & Equipment deals with tangible fixed asset except the assets held for capital appreciation. In case asset held for capital appreciation that assets has been separately covered under IAS-40 Investment […]

Asset management

Recording of Fixed Asset Details

Recording of Fixed Asset Details Information recorded against a fixed assets will change from business to business, which means that the following procedure may need to be adjusted.  Below are the steps to maintain fixed assets related information. Create record Create a new record for the asset and assign the next sequential record number to […]

componentization

Fixed Asset Componentization

Fixed Asset Componentization Fixed Asset Componentization is the practice of separating the asset into component parts. Fixed assets are the building blocks of most of the organizations. Utmost care is required to manage these assets to achieve maximum productivity. There are different techniques to achieve this, and one such technique is asset componentization. When the […]

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8 ways to Manage Fixed Assets Effectively

8 ways to Manage Fixed Assets Effectively In current competitive business environment, organizations view business profitability not just as a function of revenue, but also better management of resources. Fixed assets often comprise a significant portion of the total assets of an enterprise, and therefore secure an important position on the Balance sheets. The very fact […]

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