Fixed assets consist of property, plant, and equipment. While all accounting students learn about assets, there is little focus on fixed assets specifically and there is very little guidance available on how fixed assets should be managed. It is extremely important for businesses to have processes in place that allow them to monitor the status of maintenance on their fixed assets. Unexpected replacement costs and not running at maximum efficiency impact the bottom line. Companies need accounting processes in place that allow them to effectively manage their property, plant, and equipment.
Book Details:
- Author: Raymond H. Peterson
- ISBN: 9780470231104
- Year Published: 2002
- Pages: 194
- BISAC: BUS001010, BUSINESS & ECONOMICS/Accounting / Financial
About the Book and Topic:
Fixed assets consist of property, plant, and equipment. While all accounting students learn about assets, there is little focus on fixed assets specifically and there is very little guidance available on how fixed assets should be managed. It is extremely important for businesses to have processes in place that allow them to monitor the status of maintenance on their fixed assets. Unexpected replacement costs and not running at maximum efficiency impact the bottom line. Companies need accounting processes in place that allow them to effectively manage their property, plant, and equipment.
The need for a comprehensive manual on how to manage fixed assets is no less strong today than it was when the current selling edition published in 1994. This book remains the only book on its subject in the marketplace and continues to be a steady performer. The new edition inlcudes new material on software selection, government accounting, and not-for-profits as well as updated material throughout.
Shows how to manage fixed assets instead of just replacing them when they have lost all of their value. * Provides accounting guidance for key issues such as asset classification, base unit, asset value, inventories of fixed assets, written policies, and more. * Explains how to implement procedures for fixed assets that provide a process of continuous improvement.
About the Author
RAYMOND H. PETERSON is currently the principal of Ray Peterson & Associates, an accounting consulting firm in California. During his career, he has held positions as Director of Financial Accounting for Pacific Bell and Division Manager, Accounting Standards for Bell Communications Research. He also served as treasurer for a number of nonprofit organizations and for twelve years was a member of the Institute of Management Accountants Accounting Standards Committee.