What is 'fixtures and fittings' in SAP FI-AA - Asset Accounting?

fixtures and fittings - Overview

• Component: FI-AA

• Component Name: Asset Accounting

• Description: An asset type in tangible fixed assets. Fixtures and fittings covers all objects used in equipping a company except for machinery.

fixtures and fittings - Details

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  Key Concepts: 
  Fixtures and fittings are assets that are permanently attached to a building or land, such as furniture, carpets, and lighting. In SAP FI-AA Asset Accounting, these assets are tracked and managed in the same way as other assets. 
  
  How to use it: 
  In SAP FI-AA Asset Accounting, fixtures and fittings are treated as fixed assets. This means that they must be recorded in the asset master record and depreciation must be calculated for them. The asset master record contains information about the asset, such as its description, acquisition date, and useful life. Depreciation is calculated based on the useful life of the asset and is posted to the general ledger. 
  
  Tips & Tricks: 
  When recording fixtures and fittings in SAP FI-AA Asset Accounting, it is important to ensure that all relevant information is included in the asset master record. This will ensure that depreciation is calculated accurately and that all relevant information is available for reporting purposes. 
  
  Related Information: 
  For more information on SAP FI-AA Asset Accounting, please refer to the official SAP documentation at https://help.sap.com/viewer/product/FI_AA/1/en-US.