Fixed Asset Accounting

Fixed assets also known as tangible assets are properties and assets owned by a company that are required for the company to produce, store and deliver its products or services. These assets may include property, production plants, and equipment that are essential for the company to conduct its business. These assets are not investments and are generally not sold. These assets remain with the organization for a considerable length of time.

Examples of fixed assets include:

Buildings
Warehouses
Manufacturing plants
Computers and peripherals
Machinery and equipment
Vehicles

FintechMinds maintains a pool of experienced accountants who comprise our Accounting Services teams and can assist with all your Fixed Asset Accounting needs.

Fixed Asset Accounting is crucial for:

Maintaining records of all the fixed assets owned by an organization
Records with relation to maintenance costs incurred for such fixed assets
To comply with laws, rules, and regulations
And, for creating accurate financial statements of the organization at the end of each financial
year

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