In the dynamic realm of inventory management, staying ahead of the curve is paramount. RFID stickers for inventory have emerged as a transformative solution, igniting a revolution in the way businesses oversee their stock control. Imagine a system that not only tracks your assets with remarkable precision but also does so in real time, providing …
RFID Stickers for Inventory: Revolutionize Your Stock Control Read More »
Warehouse Management Software (WMS) is a type of software designed to optimize and streamline various processes within a warehouse or distribution center. It provides tools to manage inventory, track stock movements, organize storage, and handle order fulfillment efficiently. WMS helps businesses enhance their operational efficiency, reduce errors, and improve overall inventory control, ultimately leading to …
Warehouse Management Software Cost: What You Need to Know Read More »
Welcome to our comprehensive guide on ASC 842, the Accounting Standards Codification standard that addresses lease accounting. ASC 842 brings significant changes to the way leases are accounted for, impacting both lessees and lessors. With the implementation of ASC 842, companies are required to recognize most leases on their balance sheets, increasing transparency and providing …
ASC 820, also known as Accounting Standards Codification (ASC) 820 or FASB ASC 820, is a comprehensive standard that provides guidance on fair value measurements in financial reporting. It establishes the principles and procedures for determining the fair value of assets and liabilities and outlines the disclosures required to enhance transparency and comparability in financial …
ASC 820: A CPCON Guide to Fair Value Measurement Read More »
Internal control of fixed assets refers to the policies, procedures, and practices implemented within an organization to safeguard and manage its fixed assets effectively. Fixed assets typically include long-term tangible assets such as land, buildings, machinery, vehicles, and equipment that are used in business operations. The purpose of internal control is to ensure the proper …
Internal Control of Fixed Assets: Best Practices and Tips Read More »
Accounting for Plant, Property, and Equipment (PP&E) under the IFRS component approach outlines the steps involved in recognizing and measuring individual components, including identification, separate recognition, initial measurement, subsequent measurement, depreciation, impairment, and disclosure requirements.
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 »
Introduction Asset tracking and Fixed Asset programs play a critical role in managing and maintaining valuable assets within organizations across various industries. Two popular technologies used for asset tracking and fixed asset programs are Radio Frequency Identification (RFID) and barcodes. While both have their tracking characteristics, RFID has emerged as a superior option for asset …
RFID vs. Barcode: Revolutionizing Fixed Asset Tracking with RFID Asset Tags Read More »
International Accounting Standard 16 (IAS 16) plays a crucial role in establishing consistent and transparent reporting practices for property, plant, and equipment (PP&E) across various organizations. Compliance with IAS 16 ensures that these tangible assets are recognized, measured, and disclosed appropriately in financial statements. This article serves as a comprehensive guide to understanding and implementing …
RFID Systems are a cutting-edge technology to inventory control and management. RFID, or radio-frequency identification, is essentially a tracking technology that uses radio frequency waves to remotely identify and manage objects. Manual data collection processes using barcodes and spreadsheets can be time-consuming and prone to errors, which leads to limited inventory visibility. In this article, …
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.
