Fixed Asset Accounting is a process that allows corporations to properly recognize long-term investments, better manage their resources and make informed decisions about future investments. It involves the accurate recording of purchased or donated fixed assets such as buildings, land, furniture, vehicles, tools and equipment. Companies use fixed asset accounting to track these important investments and make sure they are correctly depreciated over time. The process also helps ensure compliance with tax regulations while providing reliable information for business planning and budgeting. With a thorough understanding of its fixed assets, a company can confidently invest in its success.