The "fixed assets" of a company comprise long-term assets intended for use over an extended period for operational purposes rather than for sale. Typical fixed assets include land, buildings, machinery, equipment, vehicles, and intangible assets such as patents and licenses. Fixed assets are reported on a company's balance sheet and contribute to generating revenue and profits over multiple fiscal years.
Typical functions of software in the area of "fixed assets" are:
Asset recording: Capturing and recording all fixed assets of a company, including their characteristics, acquisition costs, locations, and useful lives.
Impairment management: Monitoring and assessing impairments of fixed assets over time to calculate appropriate depreciations and account for loss in value.
Maintenance planning and management: Planning, assigning, and tracking maintenance and repair activities for fixed assets to ensure their proper operation and longevity.
Access and disposal management: Managing access to and disposal of fixed assets, including recording partial acquisitions and disposals and calculating corresponding depreciations.
Reporting and analysis: Providing reports and analysis on the condition, usage, performance, and value of fixed assets to gain insights into their financial impacts and efficiency.
