International Scientific Journal of Engineering and Management

An International Scholarly || Multidisciplinary || Open Access || Indexing in all major Database & Metadata
ISSN: 2583-6129

Impact Factor: 6.674

A STUDY ON FIXED ASSET MANAGEMENT

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A STUDY ON FIXED ASSET MANAGEMENT

  1. Author: A.ANITHA, Asst. Prof., Dept. of MBA, SANTHIRAM ENGINEERING COLLEGE, NANDYAL
  2. Author: G.APSANA, Student of MBA, SANTHIRAM ENGINEERING COLLEGE, NANDYAL

Abstract: Fixed assets management is an accounting process that seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence.

According to International Accounting Standard (IAS), Fixed Assets are assets whose future economic benefit is probable to flow into the entity, whose cost can be measured reliably.

Fixed Asset management is crucial to the accounting process in any business. It can be difficult to find the time and the tools to devote the needed attention to assets that they deserve. The truth is that a company’s assets are the largest investments most companies make. Sound management of assets can yield substantial tax savings in depreciation deductions. Without thorough management of assets, the accuracy of financial reports will be threatened and there will be a negative impact on your bottom line. Establishing the highest standards of depreciation accuracy and best practices in fixed asset management will pay off in the form of savings and efficiency.


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