Fixed Asset Register Maintenance
In the matter of fixed asset register maintenance, BaB will assist in the provision and maintenance of the businesses fixed asset register and continuously provide report or schedule of its monthly or quarterly depreciation expenses and its accumulated depreciation for the year.
Depending on the nature and size of the business, the importance of having to maintain a register and record of an accurate fixed assets is to ensure compliance is correctly reported. It will also provide businesses with the idea of how to plan in the short or long term.
Fixed Asset Register Maintenance – what’s included?
These fixed assets may include land, buildings, machineries, office equipment like computers etc., office furniture and equipment, leases, etc.
BaB will assist in setting up a register that will list all of businesses fixed assets owned, where it is located, purchase price of the asset, the useful life of the asset, and the estimated or expected value at the end of the asset useful life.
With this register, BaB will assist in the following areas:
(a) calculation of the monthly, quarterly or annual depreciation
(b) assist the business in forecasting profit and cash flow maintenance of the assets
(c) use as a tool to summarise the deductible taxation depreciation expense for instance business owners with rentable properties
With BaB, business owners will be assured of the maintenance of this register that provide historical list of your business assets.
Suggestion for further reading in relation to fixed asset register maintenance, please go to this page
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