Every asset has a useful life, and failing to plan for replacements can lead to costly downtime or last-minute, high-cost ...

Establishing the existence of a business's fixed assets and evaluating their value is an essential auditing task. Despite this, many businesses do not do a great job of keeping track of fixed assets.

Fixed asset impairment occurs when asset market value drops below its book value. To detect impairment, compare asset's book value against its recoverable amount. If impaired, reduce book value on ...