It is very well known that fixed assets are essential and they facilitate to run the business. Clean and correct fixed asset entries will help in potential savings, correct business net worth on the balance sheet, determine exact depreciation value, preventive maintenance, quality, and condition etc to name a few.
With all the understanding, it is important to ensure that asset information is trustworthy in the business operations.
There are still open challenges like
The standardized process to Create/Changes of a Fixed Asset/Assets
Ali Syed, Director, Strategic Accounts