Although they're considered low risk by auditors, fixed assets
need attention to ensure the organization's records are accurate and its controls provide effective oversight of this area.
The predominant sources of fixed assets
are own funds of enterprises and households, their share in total volume amounted to 57.
The largest volume of investments on tangible fixed assets
was invested in the sector of industry - BGN 5 428 M and in the service sector (wholesale and retail trade; repair of motor vehicles and motorcycles; transport, communication and services; accommodation and food service activities) - BGN 3 961 Million.
For more information on BNA Fixed Assets
, visit www.
In addition, the proposal simplifies the fixed assets
rule's partial occupancy requirements for federal credit union premises acquired for future expansion by establishing a single six-year time period for partial occupancy of such premises and by removing the 30-month requirement for partial occupancy waiver requests," according to the board action memorandum.
BNA Fixed Assets
is designed to guide or direct users through the entire asset recording and reporting process.
generally are not sufficient to secure the required capital to pay for the true value of a business.
CPAs who work for entities that must implement SOP 98-5 would be wise to meet with their outside CPA firms before the end of a reporting period to decide how costs are to be categorized--as start-up, fixed assets
or inventory, for example.
Accordingly, identifying and removing such assets from the fixed asset
records can significantly reduce property tax assessments.
Once the transition calculation is made, taxpayers and the government would, for AMT purposes, ignore actual retirements and dispositions of fixed assets
that were part of the initial cumulative difference.
However, it is important to realize that both the replacement cost of equipment and cost of new technology usually require making adjustments to the value of fixed assets
when computing return on assets.
IFRS and its effects on fixed assets
are a key concern of our clients", comments Kelley Lear, Managing Director, Red Moon Solutions.