Analyze the useful life

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This is an important step, as it will assess the useful life of the company's assets. Just like in the assessment of assets, each asset is classified according to its level of usefulness to the business. Therefore, it is labeled as:

economic useful life: the actual time in which the company expects to use the asset;
elapsed life: the period in which the asset has already been used.
Update the values
Taking inventory is not an ongoing process — updates will still be needed, especially as kuwait phone number list assessments become more accurate. In this process, the comparison is made by cross-referencing the information in the accounting records with the physical inventory.

It is at this stage that assets that do not have a physical existence will be accounted for, as well as those that are not registered in the accounting base. Three reports are generated: accounting surpluses, physical surpluses and reconciled assets.

Take the Impairment test
This is a test designed to ensure that the value recorded in the accounting base of an item is recovered according to its marketability. Basically, it is a way of proving that the asset can be converted into money , either through marketing or through its use. This test is also described in Law 11.638/07.

How does collection management enable better asset management?
Throughout this text, we saw that asset management takes care of two important points for a business: assets and liabilities. Especially when it comes to liabilities, that is, what the company will receive, it is common for there to be some values ​​that are frozen. This is because they are tied to some debt.

At this point, collection management can make a big difference, not only by helping to monitor these amounts, but also by ensuring that these debts are paid off. It will provide accurate information for carrying out the inventory, helping management to cross-reference data and have more accurate asset management.