by Verasset | May 10, 2013 | Asset Appraisal, Asset Reconciliation, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Reconciliation, Latest News, Physical Inventory, RFID
A senior consultant to Verasset Corporation, has published a book titled Optimizing the Asset Lifecycle. Brad Vinecombe has worked in the asset management and tracking industry for over 20 years, having founded, run, and sold several businesses and products related to...
by Verasset | Apr 18, 2013 | Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
Fixed assets are items of personal (moveable) property with an estimated useful life of more than one year. Examples of fixed assets include furniture, fixtures, equipment, computers, vehicles, and similar items of personal property. A fixed asset does not lose its...
by Verasset | Mar 28, 2013 | Asset Appraisal, Barcode Labels, Fixed Asset Inventory, Latest News, Physical Inventory, RFID, RFID Labels, Sarbanes-Oxley Act
Regulatory Compliance- The number 1 reason we find that our customers need to conduct a physical inventory is regulatory compliance. Compliance issues vary depending on the organization, and can include; audit, Sarbanes Oxley (SOX) compliance for fixed assets, and...
by Verasset | Mar 18, 2013 | Asset Reconciliation, Fixed Asset Inventory, Fixed Asset Reconciliation, Latest News, Physical Inventory
Reconciling fixed asset financial records can be a daunting task. Multiple record sources are involved including; payables, purchase orders, registers, and the general ledger. A significant hurdle is that more than one person is usually involved. Consequently, record...
by Verasset | Mar 7, 2013 | Asset Reconciliation, Fixed Asset Depreciation, Fixed Asset Inventory, Latest News, Physical Inventory
Capitalized fixed assets are assets that meet or exceed a defined value threshold and are depreciated in value over their useful life. Asset depreciation is usually recorded each month. One common depreciation method is to calculate annual depreciation expense and...
by Verasset | Mar 7, 2013 | Asset Reconciliation, Fixed Asset Inventory, Latest News, Physical Inventory
Establishing proper internal fixed asset controls is pertinent to successfully managing assets. Fixed assets that meet or exceed a stated value threshold should be capitalized and recorded in a fixed asset register. At a minimum, the register should include; cost,...
