Asset Inventory is Key Document to Protect Business Assets

AVON, Ind. - Aug. 4, 2013 - PRLog -- Large corporations maintain an inventory of company personal property and keep this information up to date. The need for an asset inventory is equally important for small business owners for a number of reasons. In their recently published book, “A Business Guide to Asset Inventory,” the founders of Nationwide Inventory Professionals share their knowledge and experience gained over the years regarding these many situations.

Many business owners make the incorrect assumption that if they have a depreciation schedule, they have the information they need. The majority of CPAs use the rule of thumb to expense any item with a value of less than $1,000. The dollar value of these expensed items can be quite high, and are rarely compiled into a working document.

The most commonly known reason to need a thorough document of all company assets is for insurance purposes. The business will have difficulty recovering properly when filing an insurance claim after a loss from fire, theft, or a natural disaster if they can’t provide a thorough list to the insurance company. When purchasing insurance, an asset inventory will also help ensure the company is sufficiently insured.

This inventory guide also covers the many other events a business benefits from this detailed document and supporting photographs. Accounts from business owners who describe how failing to have an inventory of their assets hurt their business are included in the book. Additionally, you’ll read how others, whose companies have an inventory, receive the benefits of helping them protect their financial future.

Most business owners do not have the time to create an inventory. Tips on how to choose the right company to serve as an outsourced service provider are also included. For those who do have the time and desire to create their own company’s inventory, this guide provides information to help create the personal property inventory.

A Business Guide to Asset Inventory can be purchased on Amazon, or by clicking on this link: https://www.createspace.com/4343955.

About the Authors

Mike and Cindy Hartman are recognized leaders of the industry, and achieved this by constantly reviewing their inventory processes, then implementing improvements and revisions on a continuing basis. They are the founders of Nationwide Inventory Professionals, a premier Business Package and Licensing Agreement that provides the tools required to begin and grow an independently owned home inventory company. (http://www.NationwideInventoryProfessionals.com). They have also co-authored, “Home Inventory – A Guide for Homeowners and Renters (https://www.createspace.com/4335444).”