Componentization – when fixed assets having major identifiable components with different useful lives are identified and treated as separate components.
Componentization of assets
Fixed Asset Register (FAR) construction
A fixed asset register contains the list of all the fixed assets a business owns. The FAR is maintained to keep track of book value of assets and depreciation.
Active Company Tagging Identities and Verification
Every company incorporated on or before the 31st December 2017 shall file the particulars of the company and its registered office, in e-Form ACTIVE (Active Company Tagging Identities and Verification) on or before 25.04.2019.
Geo Tagging
What is Geo Tagging of an asset? It is the process of adding geographical identification like latitude and longitude to an asset. Geo-tagging can help users find a wide variety of location-specific information from a device. It provides users the
Asset Retirement Obligation – ARO
ARO is a legal obligation associated with the retirement of a tangible long-lived asset in which the timing or method of settlement may be conditional.