What it does
Tracks fixed assets — equipment, property — with original cost, useful life, and current book value.
Track equipment and property with cost, useful life, and book value.
Tracks fixed assets — equipment, property — with original cost, useful life, and current book value.
Equipment loses value over its useful life; tracking that properly (rather than expensing it all on purchase) is what makes the Balance Sheet and P&L accurate for capital-intensive businesses like printing.