Accounting Reports 2

TECHNICAL ENGLISH FOR ACCOUNTING II

Fixed Assets Report
WHAT IS A 'FIXED ASSET’?

A fixed asset is a long-term tangible

piece of property that a firm owns
and uses in its operations to
generate income. They are not
expected to be consumed or
converted into cash within a year;
and they are known as property,
plant, and equipment (PP&E)
Fixed Assets Report
IMPORTANCE TO HAVE A GOOD SOFTWARE
TO MANAGE THE FIXED ASSETS.
Accurate depreciation calculations
Correct calculation of gain or loss on disposals.
Consistent application of your company’s
depreciation policies.
 Improved internal control and extensive audit
trails.
The ability to easily merge the data from
several companies or divisions.
The ability to produce comprehensive reports
Purchase
Report.
A Product purchase
report provides you
an insight into the
purchases made for
various items in your
inventory focusing
mainly on quantity
and total cost incurred
to buy that quantity
for a preferred date
range.
Payroll Report
The Payroll Summary
report is used to view
total Payroll payments
and allocations by
employee for the
areas of Gross Pay,
Deductions, Tax and
Net Pay.