Cleaning Up Fixed Asset Lists Saves Money? Many renewable companies struggle to keep their fixed assets lists up to date. A fixed asset is a long-term tangible property that a company owns and uses in its operations to generate income. The assets are referred to as property, plant, and equipment (PP&E). When a company purchases a fixed asset, such as machines, computers, tanks, etc., they are added to a Fixed Asset List and are used as a basis for accounting depreciation and other purposes. Many companies do not monitor these lists on a regular basis, and, over time, they become inaccurate. Machines can be purchased and not properly recorded. Some machines are taken out of service and stored while others may be scrapped or sold and those transactions are not recorded. Taking the time to purge fixed asset lists of disposed and out of service assets can save a company money in lower property taxes, insurance premiums, storage fees, and more. A company can generate cash by selling or scrapping unused assets and can free up floor space potentially increasing capacity.
When it is time to clean up Fixed Asset listings for accounting, a buyout, or other purposes, companies should consider a professional to assist with identifying, tagging, and valuing the assets. Appraisal professionals provide this service and can inspect and identify assets in a detailed manner, saving a company time and money for years to come.
Large renewable energy and biochemical consulting firms certainly have experts in the more common areas like of bio and renewable fuels, biomaterials, biomass and biomass power, biomaterials, biochemicals and biotechnologies. But, they also have an expertise in a wide variety of specialty services like expert witness testimony, techno-economic analysis, due diligence, feasibility studies, budgeting, project management, technology assessment, insurance, due diligence, risk management, benchmarking, intellectual property, HAZOP, financial modeling, competitor analysis, and assistance with RIN and Low Carbon Fuel Standards (LCFS) matters. These firms should also be able to assist with other things like Aspen plus, logistics, bioreactor design, municipal solid waste remediation, syngas and bio-based product development, carbon credits, climate change analysis, environmental permitting, equipment sales, experimental validations, grant writing, IP strategy, life cycle analysis (LCA), plant operations, plant sales and auctions, and risk analysis (FMEA).
Lee Enterprises Consulting is the world’s premier bioeconomy consulting group, with over 100 highly qualified experts serving in all these areas. Take a look at our experts and the services we provide. Most of our experts are also available to advise and serve as expert witnesses in bioeconomy litigation matters. For the larger projects, we specialize in putting together full service, interdisciplinary teams with one point of contact. Call us at 1+ (501) 833-8511 or email us for more information. See also Appraisals for Expert Witness Testimony & Estate Tax Purposes and Multi Slide Guide to Auctions in the Bioeconomy.