Fixed asset management is a key element for daily operations in organizations. Manual methods for fixed asset management can lead to high levels of human error. Software such as Oracle Fixed Assets provides a comprehensive solution for managing real estate and equipment. With Oracle Fixed Assets, companies can add, depreciate, divide, valuate, and delete fixed assets, ensure compliance with local accounting and taxing practices, configure and manage an unlimited number of depreciation methods, set predefined or custom depreciation methods for each asset, valuate assets in different currencies, automate assets definition and configuration, and update asset information daily, monthly, quarterly, or annually. Oracle Fixed Assets can generate reports on additions, transfers, retirement, and other unregistered changes to ensure asset inventory remains precise.