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Resources for Sound Business Decisions.™

The Fixed Asset Accountant

A fixed asset is property with a useful life greater than one year that is used in the operations of a business to generate income. Examples include buildings, equipment, furniture and vehicles. In smaller organizations, fixed asset accounting may be one of many accounting tasks performed by the same individual. Larger businesses may have one […]

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Salvage Value for Fixed Asset Financial Reporting

Salvage Value is a key component in accurately calculating the deprecation of fixed assets for financial reporting purposes, but is generally not a factor for tax depreciation under MACRS. In essence, Salvage Value is the anticipated value of a depreciable asset when it reaches the end of its Useful Life. The Cost of an Asset […]

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