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Over the past 25 years, our team has worked with clients in virtually every asset-intensive industry. Whether your fixed assets include buildings, retail fixtures, vehicles, healthcare equipment, aircraft, or virtually any type of industrial and commercial equipment, we can help you manage and account for them more efficiently. Our industry expertise reduces stress and complexity while maximizing your bottom line.
The aerospace industry is at the forefront of technological innovation, pushing boundaries and exploring the vast expanse of the skies. Managing fixed assets in this industry involves intricate systems, extensive maintenance requirements, and specialized equipment such as aircraft, spacecraft, and related infrastructure. Accounting for these assets demands precision and in-depth knowledge of the unique challenges within the aerospace sector. Our expertise in aerospace industry asset management can help optimize your accounting processes and ensure compliance with industry regulations.
No sector faces more complex processes in accounting for land and land improvements than agriculture and forestry. Accounting for the acquisition, valuation, and improvement of agricultural land, including drainage systems, irrigation infrastructure, soil improvements, and infrastructure like roads and power transmission, requires specific expertise and deep experience.
Project-based accounting is always top-of-mind for fixed asset professionals in the construction industry. What to capitalize and when to capitalize can have huge impacts on the bottom line. Construction-in-progress accounting demands fast, robust, reliable systems—and experts who understand the complex rules surrounding it.
Campus facilities and infrastructure are the heart of the education world—many like their own self-contained cities. From lodging to laboratories, stores to sports arenas, classrooms to cafeterias, furniture to fixtures, they deal with asset inventories that are as wide-ranging as they are large. Special challenges for accountants in this sector include donated and grant-funded assets, as well as intellectual property at research-oriented institutions.
The energy sector has everything necessary to keep fixed asset accounting interesting. It’s got mammoth assets, like power plants, pipelines, refineries, renewable energy installations, and transmission infrastructure. It’s got constant change and growth, driving immense construction projects, often in demanding environments. It’s highly regulated around the world and subject to special accounting rules that vary widely by location. Challenges like these demand systems and processes that run efficiently and produce results you can depend on.
There is perhaps no industry that everyone has more direct experience with. Still, it might surprise most people to learn how complex the fixed asset environment in the food and beverage sector can be. Specialized equipment abounds: commercial ovens, refrigeration units, and production machinery. Depreciation tracking across such a large, diverse inventory is data-intensive and demanding. Facility expansions and renovations make accounting for fixed assets dynamic and detail-oriented.
Government fixed asset accounting often includes unique capitalization thresholds and depreciation policies. Differences between Federal, state, and local processes demand flexible systems and specialized knowledge. And, of course, the sheer size of government asset inventories and abundance of regulatory requirements necessitates capable, robust software that’s well implemented and efficiently used.
The healthcare sector faces some uniquely challenging problems in tracking and accounting for their fixed assets. Hospitals are often “perpetual construction zones” with dozens of wings and departments sharing assets across large campuses. The sector has some of the most valuable and technical mobile equipment of any industry, and faces close regulatory scrutiny in virtually everything it does.
The hi-tech sector hasn’t always been recognized as an asset-intensive industry. That’s changed dramatically, though, in the past twenty years. From the growth in specialized manufacturing of semiconductors and computer hardware, to the rapid proliferation of data centers around the world, the hi-tech sector is now unarguably asset intensive. Speedy technological advancement, dynamic rules around R&D capitalization, and large, technical asset inventories with diverse and complex depreciation guidelines make fixed asset accounting for this sector especially challenging.
Hotels, restaurants, furniture, fixtures, equipment: managing and accounting for these diverse assets, each with different useful lives and depreciation methods, can be complex and demands precise tracking and valuation. Leasehold improvements and other construction-in-progress accounting demand specialized knowledge and well-implemented systems to support the evolution of projects and their reflected value on financial statements and tax reports.
Regardless of what “widgets” your firm is sending down the production line, you know that manufacturing companies face special fixed asset accounting challenges. You often have large, expensive assets with intricate structures, consisting of numerous components and subcomponents. Maintenance and repair costs are always top of mind. And the steady march of progress means upgrades and construction-in-progress drive additional accounting complexity.
Fixed asset accounting in the mining industry is one of the most poorly understood areas in all of accounting. Mineral rights, extractive assets, capitalization of exploration and evaluation costs, and lots of huge, expensive equipment all present special challenges. Robust, well-implemented systems can keep the regulatory wolves at, bay, though ensure accurate, timely reporting across even the largest firms.
With dozens, hundreds, or thousands of locations to track and manage, the retail sector provides a never-ending stream of complex challenges for fixed asset accountants. Tracking assets between locations and staying on top of remodels and refurbishments means your data has to be clean, up-to-date and reliable.
The transportation and logistics sector manages a wide range of diverse asset types: trucks, ships, airplanes, containers, handling equipment, and warehouses. That means a wide range of depreciations schedules, maintenance requirements, and valuation methods. And, of course, your assets are often on the move!
The waste management industry is under ever-increasing scrutiny and mounting performance pressures. Compliance is always top of mind for companies in the space. Streamlined fixed asset systems and processes make managing diverse inventories of waste management equipment, vehicles, and facilities easier and more reliable.
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