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A Fixed Asset Register (FAR) is an accounting method used for major resources of a business. Fixed Assets are assets such as land, machines, office equipments, buildings, patents, trademarks, copyrights, etc. held for the purpose of production of goods or rendering of services and are not held for the purpose of sale in the ordinary course of business. Fixed assets constitute a major chunk of the total assets in the case of all manufacturing entities. Even in the case of service entities such as hotels, banks, financial institutions, insurers, mobile / telephone service providers etc. it has become imperative to invest heavily in furnishing, equipment, and technology to attract, and retain customers. Just as it is important for a person investing on the NASDAQ to know those investments, so it is important for a business entity to have a list of its fixed assets. A Fixed Asset Register is that list of assets. Objectives in maintaining a Fixed Asset Register (FAR)A FAR must be kept in order to be in compliance with legislation governing corporations, companies, etc. It allows a company to keep track of details of each fixed asset, ensuring control and preventing misappropriation of assets. It also keeps track of the correct value of assets, which allows for computation of depreciation and for tax and insurance purposes. The FAR generates accurate, complete, and customized reports that suits the needs of management. A FAR also allows a company to keep track of fixed assets that are not under simple, direct control of the company. This means owned and leased assets, assets under construction, and imported assets. The FAR can also be used to aid in capital budgeting and to keep track of amount provided for Asset Retirement Obligation (ARO) in respect of each asset as required by US GAAP (FAS – 143). From Wikipedia under the
GNU Free Documentation License if we paid vat on purchase of fixed asset . can we claim for that paid vat? Q. we are company . we paid vat on purchase of fixed asset . and we are not Register under vat , can we claim for that paid vat Asked by Patil - Mon Jul 6 05:47:24 2009 - - 1 Answers - 0 Comments A. yes, and no required to register under vat , we should bring the input credit on assets because credit is utilise in more time ,and we can pay total amount of assest (with vat) in 36 month freindly. Answered by rahul k - Mon Jul 6 09:49:35 2009 Appalachian Registers, Inc. (ARI) has current sales of $50 million. Sales are?. Appalachian Registers, Inc. ? Q. Appalachian Registers, Inc. (ARI) has current sales of $50 million. Sales are? . Appalachian Registers, Inc. (ARI) has current sales of $50 million. Sales are expected to grow to $75 million next year. ARI currently has accounts receivable of $10 million, inventories of $15 million, and net fixed assets of $20 million. These assets are expected to grow at the same rate as sales over the next year. Accounts payable are expected to increase from their current level of $10 million to a new level of $13 million next year. ARI wants to increase its cash balance at the end of next year by $2 million over its current cash balances, which average $4 million. Net income next year is forecasted to be $10 million. Next year, ARI plans to pay… [cont.] Asked by troxldo - Sun Feb 1 13:00:32 2009 - - 1 Answers - 0 Comments Multiple Choice! Please help me find the best answers?
Q. 1. Equipment with a cost of $80,000, an estimated residual value of $5,000, and an estimated life of 15 years was depreciated by the straight-line method for 5 years. Due to obsolescence, it was determined that the useful life should be shortened by 5 years and the residual value changed to zero. The depreciation expense for the current and future years is a. $5,500 b. $11,000 c. $10,000 d. $5,000 2. Which of the following is true? a. If using the double-declining-balance the total amount of depreciation expense during the life of the asset will be the highest. b. If using the units-of-production method, it is possible to depreciate more than the depreciable cost. c. If using the straight line method, the amount of… [cont.] Asked by Help me! - Sun May 17 02:31:33 2009 - - 1 Answers - 0 Comments A. 1. b or 11,000. good luck for the rest. Answered by moonlight sonata - Sun May 17 04:57:53 2009 From Yahoo Answer Search: "Fixed Assets Register"  news.google.com RocNow Current Annuity Owners: How Your Beneficiaries Can Inherit Your Fixed or Variable Annuity Without Having to Pay Income Taxes: The Annuity Resource. ... and more » news.google.com TMC Net The Company had a current ratio of 5.9 to 1 and stockholders' equity of $32.5 million, with total assets of $37.1 million versus total liabilities of $4.5 ... and more » news.google.com Linex Legal (registration) However, this adverse affect may be mitigated to some degree in the first year of the scheme by the fixed price of permits. The RET Scheme is intended to ... and more » From Google News Search: "Fixed Assets Register"  hostware.eu 148px x 612px | 37.30kB [source page] HostWare winTAR Fixed Assets Management Software Manages the unique and collective register bookkeeps of quantitative changes and changes in value of the devices classified as fixed  appfinity.com 308px x 432px | 23.70kB [source page] allows you to create and maintain an unlimited number of fixed asset records and keep track of valuable information such as model numbers vendor contact information and maintenance records FAS Asset Card Register Screen  realassetmgt.com 577px x 800px | 312.00kB [source page] Click here to enlarge the image From Yahoo Image Search: "Fixed Assets Register"  accounting-support.blogspot.com Management Consultant. Fri, 11 Dec 2009 01:00:00 GM The . fixed assets register. is not part of the double entry and is there for memorandum and control purposes. The . fixed assets register. must be reconciled to the nominal ledger to make sure that all additions, disposals and depreciation ...  birminghampost.net unknown hu, 17 Dec 2009 17:00:16 GM Birmingham City Council confirmed last night that the accounts had still not been published, and said it had been forced to delay them after some errors and uncertainties were identified in the council's . fixed asset register. . ...  cdcumy.blogspot.com edmin cdc Sat, 19 Dec 2009 11:24:00 GM To handle . fixed asset. area from accurate recording until physical control; Responsibilities : . Fixed asset. closing on time : calculating & control depreciation expense and other . asset. value, prepare all report for monthly financial statement , ... To maintain timely and accurate recording of . Fixed asset. master through syteline, all . asset. movement and SOP; To make and get approval of FAWA, FATA, FADA; Physical control of . Fixed asset. including . asset. opname & . register. , ... From Google Blog Search: "Fixed Assets Register" |
