Mastering Fixed Assets: Ghost & Zombie Assets

00:02:06
https://www.youtube.com/watch?v=_rSicPah7jE

概要

TLDRThe video discusses 'ghost' and 'zombie' assets in financial accounting. Ghost assets are those that have been fully depreciated but are still expensed, leading to erroneously low net income. Zombie assets, on the other hand, are active assets not correctly expensed, resulting in wrongly high net income. Both types of assets expose companies to compliance risks—ghost assets by falsely reducing tax liability and zombie assets by not taking advantage of reduced tax liability. The emergence of these assets often stems from unorganized depreciation schedules and poor tracking, typically due to over-reliance on spreadsheets.

収穫

  • 💡 Ghost assets lead to falsely low net income.
  • ⚠️ Zombie assets result in erroneously high net income.
  • 🔍 Both asset types expose companies to compliance risks.
  • 📉 Ghost assets create false tax reductions.
  • 🗂 Zombie assets result from poor asset tracking.
  • 💰 Zombie assets can be financially harmful.
  • 📅 Unorganized depreciation schedules are risk factors.
  • 📝 Reliance on manual data entry fosters these issues.

タイムライン

  • 00:00:00 - 00:02:06

    The video discusses ghost and zombie assets and their impact on a company's finances. Ghost assets have already been fully depreciated but continue to be expensed, leading to lower net income and false reductions in tax liability, posing compliance risks due to unorganized depreciation schedules. On the other hand, zombie assets are currently useful but not properly expensed, resulting in higher net income and missed tax reduction benefits. These arise from poor asset tracking usually due to over-reliance on manual data entry systems. Both types of assets highlight the importance of proper asset tracking and compliance for accurate financial reporting and tax liability management.

マインドマップ

Mind Map

よくある質問

  • What are ghost assets?

    Ghost assets are fully depreciated assets still being expensed, leading to falsely low net income.

  • What are zombie assets?

    Zombie assets are assets that are not properly depreciated, causing falsely high net income.

  • How do ghost assets affect a company's tax liability?

    Ghost assets create false reductions in tax liability and expose companies to compliance risks.

  • How are zombie assets financially damaging?

    Zombie assets miss the benefit of reduced tax liability and expose companies to compliance issues.

  • What causes ghost and zombie assets to surface?

    They typically surface due to unorganized or neglected depreciation schedules and poor asset tracking.

  • What tools are often associated with the rise of zombie assets?

    Over-reliance on spreadsheets and unorganized manual data entry can lead to zombie assets.

  • How do ghost assets expose companies to compliance violations?

    By creating false reductions in tax liability, ghost assets put companies at risk of compliance breaches.

  • Which is more financially damaging, ghost or zombie assets?

    Zombie assets can be more financially damaging than ghost assets.

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  • 00:00:00
    [Music]
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    ghost assets
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    are those that have been fully
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    depreciated and past the end of their
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    useful life
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    but are still being expensed on the
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    income statement thus
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    leading to erroneously low net income
  • 00:00:24
    zombie assets on the other hand are
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    those that are active within their
  • 00:00:28
    useful life
  • 00:00:28
    but aren't properly expensed on the
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    income statement
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    thus leading to erroneously high net
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    income
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    here are three things you need to know
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    about ghost and zombie assets
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    [Music]
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    ghost assets create false reductions in
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    a company's tax
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    liability and expose them to the risk of
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    compliance violations
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    these shadowy phenomena tend to surface
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    in an environment
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    of unorganized or neglected depreciation
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    schedules
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    the risk of falsely reduced tax
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    liability and non-compliance
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    makes ghost assets a particularly
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    dangerous enemy
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    zombie assets are a different type of
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    monster but equally menacing
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    these are functioning or active assets
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    that aren't properly depreciated on the
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    income statement
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    therefore missing the benefit of reduced
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    tax liability
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    while exposing a company to compliance
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    issues while not as criminally
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    detrimental as ghost assets
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    zombie assets can be more financially
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    damaging
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    these hidden enemies arise from poor
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    visibility and
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    improper tracking of fixed assets
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    typically a result
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    of over-reliance on spreadsheets and
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    other unorganized manual forms of data
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    entry
  • 00:01:43
    to learn more visit sagefixedassets.com
  • 00:01:54
    [Music]
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    you
タグ
  • ghost assets
  • zombie assets
  • depreciation
  • net income
  • compliance
  • tax liability
  • financial accounting