Rhino Machinery on LinkedIn: Did you know? Depreciation is a crucial factor when choosing between… (2024)

Did you know?Depreciation is a crucial factor when choosing between replacement cost coverage and actual cash value coverage for used equipment.Read full article here: https://lnkd.in/eEBaHFsF#rhinomachinery#heavyequipment#heavyconstructionequipment#constructionequipment#construction#dirtdontcare#fyp

Learn something new today!Did you know?Fixed costs encompass various elements, including the initial purchase price, depreciation, as well as financing and leasing expenses.Click the link and take a look at the article we have for you:https://lnkd.in/eFHwbuKt#rhinomachinery#heavyequipment#constructionequipment#construction#dirtdontcare#fyp

🏗️ Understanding Property plant and equipment (IAS 16) Property plant and equipment are the backbone of any business, providing long-term support and helping generate revenue. But what makes them so critical?Here are some important concepts about Property plant and equipment:🛠️ Types of Property, plant and equipment: • Machinery, and Equipment: These are the physical resources that enable operations and growth. • Furniture and Fixtures: Even the desks and lighting in the office contribute to operational efficiency.💡 DepreciationAssets like machinery and equipment lose value over time through depreciation. Using methods like Straight-Line or Declining Balance, we allocate an asset’s cost over its useful life to reflect wear and tear or obsolescence.⚖️ Impairment & DisposalWhen an asset’s value drops significantly below its book value, it undergoes impairment testing, and if impaired, its carrying value must be reduced. Assets that are sold or retired are removed from the balance sheet, and any gains or losses are recorded on the income statement.#Accounting#Finance #FixedAssets#Depreciation#BusinessOperations#AssetManagement #FinancialReporting

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Our latest case study highlights Concrete Revival, a trusted and successful epoxy contractor dealing with business growing pains. Find out how financial awareness has unlocked a more effective budgeting process for Al and his team: https://lnkd.in/gxsbiwmk #SmartBudgets #FinancialAwareness

Non-material depreciation is the depreciation of labor. When recoverable depreciation is not included in a policy, this can result in significant issues we have observed in the past. It's reasonable and appropriate to not include this in estimates. Are you making sure that option is not checked? Stay diligent and ensure your estimates are accurate and fair. #Writeloss #InsuranceClaims #AccurateEstimates #Depreciation- We Write - You Adjust, Build, & Litigate - 800-272-1601 -⁠⁠#HurricaneClaims #ClaimWrite #largeloss #RemoteEstimates #Writeloss #Xactimate #Appraisal #claimslife #estimates #umpire #3D #Matterport #buildingconsultants #expertwitness #supplements #inspections #Protools #level3Xactimate #legalsupport #INSURANCECLAIMS ⁠⁠WriteLoss™ - Claim Write Inc. 800-272-1601

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Non-material depreciation is the depreciation of labor. When recoverable depreciation is not included in a policy, this can result in significant issues we have observed in the past. It's reasonable and appropriate to not include this in estimates. Are you making sure that option is not checked? Stay diligent and ensure your estimates are accurate and fair. #Writeloss #InsuranceClaims #AccurateEstimates #Depreciation- We Write - You Adjust, Build, & Litigate - 800-272-1601 -⁠⁠#HurricaneClaims #ClaimWrite #largeloss #RemoteEstimates #Writeloss #Xactimate #Appraisal #claimslife #estimates #umpire #3D #Matterport #buildingconsultants #expertwitness #supplements #inspections #Protools #level3Xactimate #legalsupport #INSURANCECLAIMS⁠⁠WriteLoss™ - Claim Write Inc. 800-272-1601

Remember, Xactimate defaults to non-material depreciation. So if you don't make sure to turn it off, it will show up in your estimates. Also, heads up: arbitrarily assigning a percentage is usually going to be much more difficult to explain than accurately depreciating materials as they should be. Stay vigilant and make sure your estimates are precise and justifiable. #Writeloss #InsuranceClaims #AccurateEstimates #Xactimate #Depreciation- We Write - You Adjust, Build, & Litigate - 800-272-1601 -⁠⁠#HurricaneClaims #ClaimWrite #largeloss #RemoteEstimates #Writeloss #Xactimate #Appraisal #claimslife #estimates #umpire #3D #Matterport #buildingconsultants #expertwitness #supplements #inspections #Protools #level3Xactimate #legalsupport #INSURANCECLAIMS ⁠⁠WriteLoss™ - Claim Write Inc. 800-272-1601

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Our latest case study highlights Concrete Revival, a trusted and successful epoxy contractor dealing with business growing pains. Find out how financial awareness has unlocked a more effective budgeting process for Al and his team: https://lnkd.in/gcspBQk9 #SmartBudgets #FinancialAwareness

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A cost segregation study can accelerate depreciation on real estate investments and free up capital for other projects. But it's not the right strategy for everyone. Get the 3 key criteria for determining whether a cost segregation study is right for you. https://bit.ly/3JGigLj

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A cost segregation study can accelerate depreciation on real estate investments and free up capital for other projects. But it's not the right strategy for everyone. Get the 3 key criteria for determining whether a cost segregation study is right for you. https://bit.ly/3JGigLj

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