Fixed Asset Accounting
A fixed asset accounting is responsible for processing statement reports for the company's assets organizing accounting records and handling bank reconciliations and disputes. They ensure an accurate balance and calculate the value of all fixed assets for reports.
Capital Gain
The term 'Capital Gain' refers to the increase in the value of the capital asset when it is sold. Put simply, a capital gain occurs when you sell an asset for more than what you originally paid for it.
Asset Life-Cycle
Asset Life-Cycle management refers to optimizing the use of assets. The asset lifecycle typically consists of 4 stages - Planning, Purchase, Operations and Maintenance, Disposal
Have an in-depth understanding of business
Asset Management is about having an in-depth understanding of business: Asset Management has an impact on different aspects of the business - partnership, project, strategy, development, marketing, sales, IT, engineering, communications, resource planning, configuration management, training field support.
Fixed Asset Record
It's important to keep excellent records of business assets, starting with the purchase of the asset. Include all information on asset costs, depreciation, salvage value, repairs and maintenance, and any appraisals of the asset.