Guide to Complying with ASC 360-10 Impairment Testing of Long-Lived Assets

A Guide to Complying with ASC 360-10 Impairment Testing of Long-Lived Assets

Leave a Comment / IFRS /

Accounting Standards Codification (ASC) 360-10, also known as the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 360-10, provides guidance on impairment testing of long-lived assets. These assets, such as property, plant, and equipment, are critical components of a company’s financial health. Adhering to ASC 360-10 ensures that companies accurately assess and report any […]

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Uncovering Higher Asset Visibility and Equipment Reutilization with RFID Tracking Tags

Uncovering Higher Asset Visibility and Equipment Reutilization with RFID Tracking Tags

Leave a Comment / RFID /

Radio Frequency Identification (RFID) tracking tags have emerged as a game-changing technology, revolutionizing the way companies track and manage their equipment inventory. Organizations use the wireless item identification properties and bulk data collection from RFID tracking tags to uncover real-time inventory data and higher asset visibility, improving equipment reutilization levels.  What Is a RFID Tracking

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Top 5 Threats to Sarbanes-Oxley Section 404 Compliance

Top 5 Threats to Sarbanes-Oxley Section 404 Compliance

Leave a Comment / Asset Management /

The Sarbanes-Oxley Act (SOX) of 2002 was enacted to improve corporate governance and financial transparency in the wake of several high-profile accounting scandals. Section 404 of SOX requires publicly traded companies to establish and maintain internal controls over financial reporting. Many organizations underestimate the necessary scope of the documentation, evaluation, and testing efforts, as well

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Top 3 Ways Real-Time Inventory Visibility Improves Intermodal Shipping Operations

Top 3 Ways Real-Time Inventory Visibility Improves Intermodal Shipping Operations

Leave a Comment / Supply Chain /

Intermodal transportation is widely recognized as one of the most environmentally sustainable modes for freight transport. However, despite its superior sustainability, logistics managers have not always been convinced to choose it due to certain inherent drawbacks, including unpredictability, potential product damage, and the risk of theft. Nevertheless, the landscape is evolving, and recent developments suggest

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Managing the Supply Chain Risks with a 4 (Four) Step Approach

Managing the Supply Chain Risks with a 4 (Four) Step Approach For Your Business’ Supply Chain Management

Leave a Comment / Supply Chain /

Supply chain risks pose significant challenges to organizations worldwide. Disruptions in the flow of materials, information, or finances can wreak havoc on business performance, customer satisfaction, and overall reputation. To safeguard against these threats, it becomes crucial for businesses to proactively identify and prioritize the most critical supply chain risks they face. By doing so,

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daily cycle counts and reconciliation of inventory variances

Daily cycle counts and reconciliation of inventory variances

Leave a Comment / Asset Management, RFID /

Inventory cycle counting is a method of frequently conducting physical counts of your inventory on a daily, weekly or monthly basis. This allows businesses to identify and reconcile data discrepancies in inventory records to ensure proper financial reporting processes.  In this article, we will explore the importance of mastering inventory cycle counting for effective accounting

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How MRO Inventory Management software is revolutionizing Supply Chain operations

How MRO Inventory Management software is revolutionizing Supply Chain operations

Leave a Comment / Asset Management, RFID /

Among the critical components of supply chain management is the effective handling of MRO (Maintenance, Repair, and Operations) inventory. With advancements in RFID technology, MRO inventory management software has emerged as a game-changer, revolutionizing how businesses optimize their supply chain operations. This article explores the significant benefits of adopting MRO inventory management software and its

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Unlocking the Value of Fixed Asset Advisory for the Financial Reporting of Fixed Assets

Unlocking the Value of Fixed Asset Advisory for the Financial Reporting of Fixed Assets

Leave a Comment / Asset Management /

Ensuring accurate representation of fixed assets in year-end financial statements is crucial for organizations. While many may confidently believe their fixed assets are accurately reported, audits can reveal discrepancies. Conducting regular inventories of fixed assets and performing reconciliations play a vital role in establishing internal controls for precise financial reporting. The financial reporting of fixed

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Did You Have Fun With Your Manual Fixed Asset Inventory and Tagging?

Did You Have Fun With Your Manual Fixed Asset Inventory and Tagging?

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Does it still make sense to manually account for, track and manage fixed assets? Well, frequently conducting an enterprise asset inventory and tagging is mandatory. However, manually collecting and reporting data on fixed asset existence using barcodes and spreadsheets can be automated to RFID Tracking.  How does RFID Technology Helps Speeding up Data Collection? As

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How to Find Losses In Your Distribution Center (DC) with RFIDs

How to Find Losses In Your Distribution Center (DC) with RFIDs

Leave a Comment / RFID /

In distribution centers (DCs), lost shipments can have a significant impact on the bottom line. Identifying and minimizing losses is crucial for operational efficiency and profitability. Fortunately, Radio Frequency Identification (RFID) technology provides a powerful tool to help DCs uncover and address potential sources of loss. By implementing RFID systems, businesses can gain real-time visibility

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