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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 […]

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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Fixed Assets Turnover Ratio

Fixed Assets Turnover Ratio Fixed Assets Turnover Ratio   What is Fixed Assets Turnover Ratio? Fixed Assets Turnover is one of the efficiency ratios that use to measure how efficiently the entity’s fixed assets are being used to generate sales. Just like its formula, the main idea of Fixed Assets Turnover is to assess number […]

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Fixed Assets Auditing in Educational Institutions

Fixed Assets Auditing in Educational Institutions Fixed Assets Fixed Assets in the shape of land, building, and equipment constitute a major chunk of the assets of an educational institution. Timely maintenance, effectively tracking and performing audit of these assets is mandatory for educational institutions. Asset auditing ensures the accurate records of internal assets. Asset auditing […]

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Top 5 Reasons to choose Fixed Asset Management Systems

Top 5 Reasons to choose Fixed Asset Management Systems Effective Tracking Assets are building blocks of every organization. Utmost importance is required to track assets. Most of the organizations rely on either spreadsheets or manual methods to save data related to assets. It causes potential issues including errors in the tracking of procured assets, missing […]

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