Personal property tax is a form of taxation imposed on fixed assets owned by individuals and businesses. It applies to a wide range of fixed assets, including machinery, equipment, and furniture, and is enforced in numerous jurisdictions. By understanding the applicable rules, maintaining accurate asset records, and engaging tax professionals, businesses can navigate the tax […]
A Guide to Preparing Fixed Assets For Property Tax Read More »
The Sarbanes-Oxley Act (SOX) of 2002 was enacted to improve corporate governance and financial transparency in the wake of several high-profile accounting scandals. Section 404 of SOX requires publicly traded companies to establish and maintain internal controls over financial reporting. Many organizations underestimate the necessary scope of the documentation, evaluation, and testing efforts, as well
Top 5 Threats to Sarbanes-Oxley Section 404 Compliance Read More »
Inventory cycle counting is a method of frequently conducting physical counts of your inventory on a daily, weekly or monthly basis. This allows businesses to identify and reconcile data discrepancies in inventory records to ensure proper financial reporting processes. In this article, we will explore the importance of mastering inventory cycle counting for effective accounting
Daily cycle counts and reconciliation of inventory variances Read More »
Among the critical components of supply chain management is the effective handling of MRO (Maintenance, Repair, and Operations) inventory. With advancements in RFID technology, MRO inventory management software has emerged as a game-changer, revolutionizing how businesses optimize their supply chain operations. This article explores the significant benefits of adopting MRO inventory management software and its
How MRO Inventory Management software is revolutionizing Supply Chain operations Read More »
Ensuring accurate representation of fixed assets in year-end financial statements is crucial for organizations. While many may confidently believe their fixed assets are accurately reported, audits can reveal discrepancies. Conducting regular inventories of fixed assets and performing reconciliations play a vital role in establishing internal controls for precise financial reporting. The financial reporting of fixed
Unlocking the Value of Fixed Asset Advisory for the Financial Reporting of Fixed Assets Read More »
When it comes to managing fixed assets, conducting a periodic fixed asset roll is crucial for maintaining accurate financial records and ensuring a solid balance sheet. In this article, we will explore the concept of fixed asset rolls, discuss their importance, and provide you with valuable tips for achieving best practices in fixed asset roll
Fixed Asset Roll Forward Template & Best-Practices Approaches Read More »
RFID Technology and automation have been transforming fixed asset management for years. Embracing current technologies can ensure accurate fixed asset accounting records and drive your accounting control, whilst freeing up valuable resources and allowing your organization to scale efficiently.
Effective inventory management is the backbone of any successful business. Whether it’s a small retail store, a manufacturing facility, or an e-commerce giant, the ability to organize and plan inventory efficiently can make a significant difference in operational efficiency, customer satisfaction, and ultimately, the bottom line.
Accurate financial records are vital for any organization’s success. One area that often poses challenges is managing fixed assets. In order to ensure precise financial reporting and compliance, conducting a full enterprise fixed asset tagging and verification process can greatly enhance your financial records in Enterprise Resource Planning (ERP) systems. This article explores the benefits
ESG in fixed asset management drives smarter decisions, regulatory compliance, and long-term value. Discover how global companies are adapting
Why ESG in Fixed Asset Management Is No Longer Optional for Global Companies Read More »
With over 25 years of experience, the CPCON Group is the global advisor that enhances and maximizes organizations’ internal control, promoting increased management efficiencies, improved regulatory compliance and financial supervision.
