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Fixed Asset Registernoun

The authoritative list of capital assets with cost, location and depreciation.

A fixed asset register records each capital item: description, tag number, acquisition date and cost, location, custodian, useful life, accumulated depreciation and net book value.

It has to be verified physically, not just maintained on paper. An annual asset count against the register is the only way to find equipment that has been moved, scrapped or lost.

Also called

  • asset register
  • FAR

See it in AWRA OpsHub

Asset Tracking

Related terms

Depreciation

Spreading the cost of a fixed asset across its useful life.

Asset Tracking

Monitoring the location, custody and condition of physical assets.

Serialized Inventory

Tracking individual units by a unique serial number.

Internal Control

A process designed to prevent or detect error and fraud.

More in Accounting

Accounts Payable (AP) Accounts Receivable (AR) Accrual Accounting Accrued Expense Aging Report Bad Debt Provision Balance Sheet Bank Reconciliation

Fixed Asset Register is not just a definition here

Accounting runs on this vocabulary every day in AWRA OpsHub — 51 of our 257 glossary terms describe things the platform actually does.

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