What is a Fixed Asset Register?
A fixed asset register is a comprehensive record of an organization’s tangible long-term assets, including details like acquisition date, cost, location, depreciation method, accumulated depreciation, and net book value.
This register tracks assets throughout their lifecycle, from purchase through disposal, supporting accurate financial reporting, tax compliance, insurance coverage, and physical inventory management. Modern fixed asset systems automate depreciation calculations, generate required reports, manage maintenance schedules, and integrate with general ledger systems.
Maintaining an accurate fixed asset register ensures proper financial statement presentation, supports audit requirements, facilitates asset management decisions, and ensures compliance with accounting standards like GAAP or IFRS.
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