Fixed assets register
Alright kiddo, let me explain what a fixed assets register is in a way that is easy to understand.
A fixed assets register is just a special list of things that a company owns and uses to help them do their job. These things are called "fixed assets" because they aren't going anywhere anytime soon. That means they're not bought to be sold, but rather to be used for a long time.
For example, imagine a company that sells ice cream. They need a lot of things to help them make and sell their ice cream. Some of these things include freezers, cash registers, and display cases. These things are all examples of fixed assets.
The fixed assets register is like a big list that tracks all of these things. It helps the company keep track of what they have and where it is. Think of it like a treasure map that shows you where all the company's treasure (their assets) are located.
The register includes details like the name of the asset, how much it cost, when it was bought, and where it's currently located. This helps the company keep track of their assets over time and know when it's time to replace or repair them.
Overall, a fixed assets register is just a fancy way of keeping track of all the things a company owns and uses to do their work. But because these things are important and can be expensive, it's important to keep track of them so the company knows when it's time to update or replace them.
A fixed assets register is just a special list of things that a company owns and uses to help them do their job. These things are called "fixed assets" because they aren't going anywhere anytime soon. That means they're not bought to be sold, but rather to be used for a long time.
For example, imagine a company that sells ice cream. They need a lot of things to help them make and sell their ice cream. Some of these things include freezers, cash registers, and display cases. These things are all examples of fixed assets.
The fixed assets register is like a big list that tracks all of these things. It helps the company keep track of what they have and where it is. Think of it like a treasure map that shows you where all the company's treasure (their assets) are located.
The register includes details like the name of the asset, how much it cost, when it was bought, and where it's currently located. This helps the company keep track of their assets over time and know when it's time to replace or repair them.
Overall, a fixed assets register is just a fancy way of keeping track of all the things a company owns and uses to do their work. But because these things are important and can be expensive, it's important to keep track of them so the company knows when it's time to update or replace them.