Fixed asset register

A fixed asset register (FAR) is essentially nothing more than a list of fixed assets that belong to an accounting entity. Traditionally the fixed asset register was maintained in a written format by a bookkeeper using a book that was set aside specifically for that purpose. Nowadays it is more often held in electronic format in an accounting system.

The main purpose of a fixed asset register is to keep track of the book value of the assets and allow depreciation to be calculated and recorded for both management and taxation purposes. A secondary purpose is to allow for the easy identification of an asset by assigning each asset a unique ID which may be printed on labels in the form of a barcode.

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