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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Here's how it can be done: Most asset ledgers have a location for each line item, so each one can be sorted by location and in descending dollar amounts.
This view grossly underestimates the administrative burden to account for the addition or deletion of the assets from fixed asset ledgers, to compute the proper depreciation under multiple tax regimes, and to calculate the proper gain or loss under the various tax regimes on disposition of the fixed assets.
The varying schedules, computations, and fixed asset ledgers require tremendous investments in systems and personnel simply to track and compute the requisite amounts under the various systems.

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