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Asset Ledger

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Asset Ledger
In accounting, a record of all assets. The asset ledger is normally divided into subaccounts covering different kinds of assets. To give a very simple example, an asset ledger may record long-term and short-term assets in different places. Larger companies nearly always have more complicated asset ledgers.


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You have to decide whether to identify the assets on the floor and try to reconcile them back to the books or to take the asset ledger printout and try to find all the items.
These issues consisted of the following: 1) the Company's methodology for determining whether an asset identified in the field corresponded to an asset in its fixed asset ledger when no documentation existed to match the two; 2) when to recognize the gains arising from the sale of scrap assets that were carried on the books at zero value; and 3) the Company's methodology for estimating vacation liabilities.
The fixed asset ledger should specifically classify all high-tech equipment.
 
 
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