Facility register
Last updated: 2021-06-21
The fixed assets register is a type of secondary register that contains information about a company’s fixed assets.
The purpose of the fixed assets register is to provide an overview of the value of the fixed assets. This register can, for example, be used as a basis for the annual accounts.
According to the Accounting Act, all companies must establish a facility register. Exceptions can, however, be made if the company has only a few assets and the current accounting provides a sufficiently good picture of the assets.
This information must be provided for each specific asset:
- Which asset it refers to
- Acquisition value
- Acquisition time
- Calculated residual value
- Period of use
- Accumulated depreciation
- Reclassifications