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The major effort of the present study is directed to examine the prevailing system of fixed assets accounting (FAA) of the selected public enterprises under study, and to find "How far the fixed assets accounting been managed?" The study further tends to examine the productivity, profitability, and effectiveness of fixed assets in each segment of capital employed. Moreover, the study tries to find the areas of inefficiency as this would contribute to large extent to suggest the ways, means, and suitable measures by which the management of the selected public enterprises can improve the performance of their FAA systems.