Fixed Assets Register
A fixed asset register (FAR) is an accounting method used for major resources of a business.
Fixed assets are those such as land, machines, office equipments, buildings, patents, trademarks, copyrights, etc. held for the purpose of production of goods or rendering of services and are not held for the purpose of sale in the ordinary course of business.
Fixed assets constitute a major chunk of the total assets in the case of all manufacturing entities. Even in the case of service entities such as hotels, banks, financial institutions, insurers, mobile / telephone service providers etc. it has become imperative to invest heavily in furnishing, equipment, and technology to attract, and retain customers.
Just as it is important for a person investing on the NASDAQ to know those investments, so it is important for a business entity to have a list of its fixed assets. A fixed asset register is that list of assets.
Read more about Fixed Assets Register: Objectives in Maintaining A Fixed Asset Register (FAR), Making Entries in The FAR, The Format of FAR Entries, Identification of A Fixed Asset
Famous quotes containing the words fixed and/or register:
“The aim of every artist is to arrest motion, which is life, by artificial means and hold it fixed so that a hundred years later, when a stranger looks at it, it moves again since it is life. Since man is mortal, the only immortality possible for him is to leave something behind him that is immortal since it will always move. This is the artist’s way of scribbling “Kilroy was here” on the wall of the final and irrevocable oblivion through which he must someday pass.”
—William Faulkner (1897–1962)
“Genius ... is the capacity to see ten things where the ordinary man sees one, and where the man of talent sees two or three, plus the ability to register that multiple perception in the material of his art.”
—Ezra Pound (1885–1972)