Asset depreciation is a critical component of financial accounting, enabling businesses to allocate the cost of an asset over its useful life. Physical deterioration is one of the primary factors considered when determining the depreciation of tangible assets. Understanding how to assess and measure physical deterioration is essential for accurate financial reporting and effective asset management.
Think of an equipment appraisal as a business planning tool. A savvy business owner isn’t just looking at their business today but also looking at how the business might look in the future. You might be looking for that next new contract, wanting a better understanding of the equity that equipment can tie up, or
Why do Business Owners Need Certified Machinery and Equipment Appraisals? Lenders, CPAs, Attorneys, Courts, and the IRS all require a USPAP (Uniform Standards of Professional Appraisal Practice) compliant, substantiated Certified Machinery and Equipment Appraisal. If the machinery appraisal report you obtain is not USPAP compliant, it is not a “qualified” appraisal, and it will not