What is Fixed Assets Management?
Regardless of the size of your business, it’s likely that you own both fixed and current assets. Current assets, such as cash, are those assets that are used up or replaced quite frequently within the life of your business. In contrast, fixed assets are business possessions that have a much longer expected life cycle within the business (usually over a year), and which help the business to produce extended profits. Common examples of fixed assets include vehicles, computer equipment, land, buildings and plant machinery. An additional subdivision of fixed assets also exists in which fixed assets are broken into tangible fixed assets – such as those listed above – and intangible assets, such as copyrights/what-are-patents.php”>patents. Fixed assets management is an accounting term that covers a wide range of issues concerning the purchase, monitoring, tax reporting and disposal of fixed assets within a business. Fixed assets are often relatively expensive and, in the case of many manufac
