Gloomy Predictions For US Economy
Since June of this year most of the economic indicators in the US have gone south. Consumers are struggling to get out from under historically large debt burdens and banks remain unable or unwilling to lend even when they find willing borrowers. The Fed is keeping up quantitative easing, although many economists believe that any American recovery may be “L-shaped” just like the experience of Japan in the 1990s. Known as “the lost decade”, the Japanese economy stagnated for an extended period with little or no growth.
Keeping a lid on capital costs at a time when the economic environment requires companies of all sizes to be conservative with their expenditures and getting the best ROI out of every dime spent is therefore even more crucial for US business. Tracking and monitoring the use of corporate assets can contribute to cost saving. Asset tracking enables the job to be done comletely professionally to determine the fair value of assets that you can find and inspect. Inventory management software has another major cost saving benefit in rooting out “Ghost Assets “and “Zombie Assets”, often as high as 15% of a firm’s total PP&E when a detailed inventory is taken.”Ghost Assets” are on the books, but just don’t exist any more, while “Zombie Assets” are physically there but not on the accounting records. Asset management software tools can be invaluable in maximizing asset utilization and ensuring proper tax accountability and depreciation.
Predictions about the US economy from Goldman Sachs range from “fairly bad” to “very bad”!Either the economy will grow at a 1.5% thru the middle of next year with an unemployment rate rising moderately to 10%.Or there’s the very very bad one where the economy returns to an outright recession. Against this backdrop, any saving enabled by fixed asset accounting may seem like a drop in the ocean, but anything that helps to keep control over outgoings and costs will be welcome in the months to come.
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