Why is it necessary to maintain a fixed asset register and what does it enable you to do?

There is financial consequence to not maintaining an accurate asset register. Every business should know at any given time where their assets are and in what condition they are in. The tracking of assets can prevent theft and loss and the maintenance of assets can extend the life of the asset. There are major tax benefits to any business tracking their assets correctly. In most cases it is a statutory requirement to have an asset register.

Explanation:

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