The importance of considering the fixed assets of a company
One of the things that make up the companies is the fixed assets they have, so it is important to consider it as one of the aspects that provides economic income on a constant basis, for this reason you must try to keep it in good condition.
It is also important to consider that the assets within the company may be those that are not physical, so it is important to be aware of all those elements that are available.
What are the fixed assets that we can consider?
Depending on the company we can find different types of fixed assets, which can be classified by their characteristics and functions:
They are those that have a physical form and cannot be sold in a short term, since they are used constantly by collaborators and provide an economic benefit within the company.
These might be:
- Office furniture
- Medical equipment
- construction machinery
- Construction team
- dental equipment
These assets do not have a physical form, however, they are important for a company to continue operating properly and are of great value and utility.
- Client portfolio
What impact does the fixed asset have on the company?
When a company's assets are managed and cared for correctly, great benefits can be had and the impact can be seen in different areas of the company. We can see this when carrying out an adequate control of fixed assets and analyzing the following areas:
- Fiscal: Having all your company's assets mapped will help you comply with your tax obligations in a timely manner.
- Financial: Proper asset control will help you see the income generated in the company, as well as the expenses with the calculation of asset depreciation.
Another important aspect is the control of assets that is carried out in the company since this will help to determine important aspects such as in the case of obtaining asset depreciation.
Why should depreciation of fixed assets be considered?
For companies it is important to determine the depreciation of fixed assets since this procedure is one of what should not be missing since it allows determining the total value of the company at the end of the year.
For this reason, three concepts that play an important role when calculating asset depreciation are taken into account:
- Initial cost: This value is considered the one that the company pays when it acquires the asset and will be the one that depreciates over the useful life of the asset.
- Rescue value: This amount is considered the amount that a company can obtain at the end of the useful life of the asset, so it is obtained by deducting the salvage value from the total value.
- Useful life of the asset: This period is considered the time in which the asset will be useful to the company.
Why is it important to use software to manage the fixed assets of companies?
It is important that companies support each other software for asset control since this will allow them to know the status and location of the assets that are in the company and in this way have all the information consolidated in one place.
In addition, the software for the control of fixed assets allows the generation of depreciations and the necessary reports that can support the accounting part of the companies, this is because databases can be generated.