Best practices for fixed asset managers
In the world of accounting, the savings potential of improved fixed asset management is often overlooked. It’s difficult to find the time and tools to devote the attention to fixed assets that they deserve.
Yet assets like land, buildings, transportation, and manufacturing equipment represent the largest investments most companies make. Sound fixed asset management can yield substantial tax savings in depreciation deductions. Conversely, suboptimal fixed asset practices can threaten the accuracy of financial reports and negatively impact your bottom line.
Establishing the highest standards of depreciation accuracy and best practices in fixed asset management will pay off in savings and efficiency for:
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Corporate accountants managing fixed assets
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CFOs striving to optimize business efficiencies and plan capital budgets
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Government asset managers complying with GASB 34/35 standards
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CPAs providing tax, depreciation, and auditing services to your clients