What are the necessary regulations needed for fixed assets management & control especially in contracting companies ?

Identify indicators for:

(A) the efficient use of fixed assets.

(B) there is an increase or decrease in fixed assets.

(C) state assets and the need to renew it.

(D) the proportion of fixed assets to total assets.

A fixed asset register (FAR) is an accounting method used for major resources of a business or it can be defined as a statement of an organisation which shows the assets that it owns.and these examples of assets are listed below.

Fixed assets are those such as land, machines, office equipment, 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.

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