TopicFixed asset balance sheet example.
PostedFri, Aug 16th 2019 09:42 AM
When valuing your assets, it’s best to err on the side of caution. This means that if equipment depreciates, you should list what it could currently be sold for. A general rule of thumb when ascertaining assets is to choose either what you paid for it, or its current fair market value. You should choose fair market value for any equipment or working capital that may be a few years old, because it will not be worth as much as you paid for it. On the other hand, if you are counting real property as an asset, you will want to choose what it is currently assessed at, rather than what you paid for it. Real property values can grow over time. If you pay tax on your real property, then you will want to use what it is being assessed as.
Some of the most important details that you should put in your data sheet include the following:
~ The basic description of the product which includes its name, properties, functions, manufacturing date, and product number.
~ The complete and accurate name of the product’s manufacturer.
~ The operating conditions recommended by the manufacturer as well as the ratings for input currents, consumption of power and other related key points.
~ The benefits that the customers or clients can get from using the product.
~ The main points of the product usage which should be discussed thoroughly with the help of segmented presentations.
~ The listing of the physical dimensions of the product.
~ The criteria or metrics of performance that the customers can refer to so they can evaluate the product’s efficiency.