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To capitalize it or not?! That’s the question! The U.S. GAAP requires the capitalization of costs when incurred a future economic benefit. While, in some cases, the decision of whether to capitalize or not is unclear, an equipment purchase is a straightforward case to capitalize the costs. Want to learn more about Asset Accounting and […]

If you’re a controller, supply chain financial manager, property managers, or an asset manager, you probably know how challenging to manage and track your fixed assets can become. From office equipment to production machinery, there are valuable assets that need to be tracked and managed properly for financial reporting, tax, operations, and regulatory compliance. One

Fixed asset management best-practices and RFID tracking technology enhance proper accounting, valuations, and financial reporting. Fixed assets like vehicles, machinery, computers, furniture, and equipment often represent the largest item on the balance sheet as the “long-term tangible assets”. One of the challenges of fixed asset management is manually managing and tracking asset transfers, disposals, and

IAS 41 “Agriculture” establishes the accounting standards for agricultural activities. This standard specifies how to recognize, measure, and disclose the assets and liabilities of agricultural activities. It also provides guidance on the accounting treatment for biological assets, such as crops, livestock, and trees, and agricultural produce at the point of harvest. The introduction of IAS

Are you prepared for the biggest change to lease accounting in over 40 years? The ASC 842 lease is here to shake up the world of finance and accounting. It comes with a plethora of changes and challenges for businesses across industries. Don’t get caught by non-compliance penalties or lose out on potential business advantages.

RFID Supply Chain Management RFID systems are a game changing to Supply Chain Management. As a tracking technology, RFIDs replace barcodes to provide bulk item scanning, data storage, and real-time data reporting properties. Indeed, the gaining business value to Supply Chain Management from RFID systems resides primarily in data to make better business decisions and

RFID technology has helped large, mid- and small-sized firms to streamline their internal controls and automate time-consuming manual processes, which address requirements of SOX framework.

A qualified appraisal is a written report by a qualified appraiser that estimates the fair market value of one or more assets. This document is to provide an unbiased and independent estimate of an asset’s value for tax-related purposes. A qualified appraiser is often required for charitable contributions, estate tax returns and other financial transactions