While there was a minor flurry of fixed asset activity surrounding the Economic Stimulus Act of 2008 and its depreciation and tax impact on businesses, the major focus in fixed asset software packages for 2008 continues to be in the areas of audit and compliance.The goal continues to be a melding of asset inventory, construction-in-process accounting and asset accounting into a cohesive and coherent application, but increasingly the demands of faster, easier and more sophisticated audit support are also garnering attention.

Also strong is the support for emerging technologies, as technologies such as RFID move beyond the retail business segment and into manufacturing and government organizations, and database systems become more flexible and powerful. There's also a stronger move afoot to separate fixed asset solutions from their tight integration to specific accounting packages, to create better and more flexible stand-alone solutions.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access