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The Disadvantages of Using Spreadsheets for Fixed Asset Management

Sponsored By Sage Software

Topics:: Accounting > Balance Sheet , Tax; Finance & Risk Management > Real Estate

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Abstract:: The importance of properly tracking fixed assets is often overlooked by businesses. Because of the time and manpower required to inventory and track fixed assets, this part of the business is ignored. Yet assets like land, buildings, transportation, and manufacturing equipment represent the largest investments most companies make. According to Deloitte, 80% of Fortune 100 companies list fixed assets as the largest line item on their balance sheets. While sound fixed asset management can lead to a substantial tax savings in depreciation deductions, poor fixed asset practices can threaten the accuracy of financial reports, causing re-reporting and negatively impacting the bottom line. Establishing the highest standards of depreciation accuracy and best practices in fixed asset management will pay off in savings and efficiency.

DETAILS

Sponsored by: Sage Software

Released: June 27, 2011

Length: 17 pages

Format: PDF (261 kb)

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