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Asset accounting

What is meant by Asset accounting?

Asset accounting refers to the process of accounting and managing a company's fixed assets. This involves recording, valuing, depreciating, and tracking the value development of fixed assets. This area of accounting is crucial for accurately representing and valuing a company's long-term assets in its balance sheet.

Typical functions of software in the field of asset accounting are:

  1. Asset recording: Capturing and recording all fixed assets of a company, including their characteristics, acquisition costs, locations, and useful lives.

  2. Depreciation management: Calculation and booking of depreciations according to applicable depreciation rules and methods to account for the decrease in value of fixed assets over their useful lives.

  3. Impairment assessment: Monitoring and assessing impairments of fixed assets to make appropriate depreciations or value adjustments.

  4. Accounting control: Ensuring compliance with accounting standards and regulations related to the valuation and booking of fixed assets.

 

The function / module Asset accounting belongs to:

Financial accounting

Annual financial statement and balance sheet

Asset accounting

Software solutions with function or module Asset accounting:

audius:CRM+ERP for production and trade
ingo365
MCS-rm - Rental Software
Microsoft Dynamics 365
microtech büro+
OGSiD
TOPIX ERP
TOPIX Financial Accounting
WEST System©