Asset Management

Gone are the days of relying solely on manual inventory counts and tedious paperwork to keep track of your fixed assets. In today’s dynamic business landscape, where accuracy, compliance, and efficient asset management are paramount, reconciling fixed assets has become a crucial process. But have you ever wondered how to reconcile fixed assets seamlessly? At The CPCON […]

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Fixed asset life cycle accounting encompasses the comprehensive management of an organization’s assets from acquisition to disposal. It involves tracking each asset’s journey, including acquisition costs, depreciation, maintenance expenses, and eventual disposal or replacement.  Efficient management of fixed assets is crucial for businesses to optimize resource allocation, minimize costs, and comply with accounting standards. By

Maintaining accurate and up-to-date records of fixed assets is crucial for any organization. Fixed asset reconciliation is a process that ensures the physical assets of a company match the records in the General Ledger.  This tutorial provides a comprehensive guide to constructing three essential queries for fixed asset reconciliation, particularly focusing on IT inventory. By

Businesses are increasingly turning their attention to the concept of the circular supply chain. Unlike traditional linear models, which follow a “take-make-dispose” approach, circular supply chains aim to redefine growth by focusing on positive societal impacts and embracing the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural

Verifying fixed assets holds paramount importance in ensuring the integrity of financial records and the overall health of an organization’s balance sheet. Fixed assets represent a significant portion of a company’s value and are crucial for its operations and growth. Without accurate verification, there’s a risk of misstatement, fraud, or errors in financial reporting. Audit

The fixed asset verification process is a systematic procedure to confirm the existence, location, and condition of fixed assets within an organization. It involves physical inspections, reconciliation of records, and documentation of discrepancies.  The process ensures that the assets recorded in the company’s books exist and are in use. Accurate fixed asset management is crucial