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Informative Articles

Bankruptcy as a debt management solution: Why do so many of us have so much debt?
In 2004, 1,562,174 Americans sought protection from creditors through bankruptcy court - a per capita rate over ten times higher than during the worst years of the Great Depression! According to the Consumer Federation of America, in 2003 alone over...
Debt Management Plans - Things You Must Do To Avoid Pitfalls
Most people are involved in some type of financial transaction or decision every day. Sometimes they can get way behind in their debts and financial obligations with no clear way to pay them off. Some resort to debt management plans, which can help...
Effective Time and Records Management Means Maximized Profitability
Of all the concerns in today's fast-paced business world, time- management has to be among the most crucial. The smallest error in our records can throw off the timing of your entire day, or worse yet, lose us an important possible sale. As...
Essentials in Time Management
Life is filled with essentials, and if we do not have the ingredients to make it work, then we are out of luck. Time management is one of the most important essentials in our life. If you think about it, we have 24- hours in each day, and...
Essentials in Time Management
Life is filled with essentials, and if we do not have the ingredients to make it work, then we are out of luck. Time management is one of the most important essentials in our life. If you think about it, we have 24- hours in each day, and...
 
Asset Management 101

Asset management is the method that a company uses to track fixed assets. It is the process of controlling assets throughout their lifecycle - from procurement, through daily operations, and finally disposal. Factory equipment, desks, chairs, computers, and property are some examples of such assets. Broadly speaking, asset management involves tracking the physical location of assets, managing demand for scarce resources, and accounting tasks such as amortization. Issues that are part of asset management include asset value and depreciation; purchasing requests, orders, and asset receipts; licenses, leases, maintenance, and other contracts; vendor performance, service levels, and warranties; departmental and user data; and physical asset attributes. One of the purposes of going all these lengths and putting in effort to organize all this information is to keep track of important information such as how much the asset costs, whom it was purchased from, who is using it, where it is physically located, which department code the cost should be assigned to, which vendor should be called for support, when the lease expires, when it should be retired, what the depreciation rate is, etc. This, in turn, provides the basis for managing and optimizing an


organization's entire asset portfolio.

When we speak of property management as part of asset management, it includes property selection, implementation of policies and performance standards for that property, and monitoring of its performance in relation to the owner's objectives.

Generally, there are four broad stages of the asset lifecycle: Planning and procurement: This involves planning, ordering, and receiving the technology. Operations: This includes managing the day-to-day operations of the assets to maximize productivity. Financial management: It involves ensuring accurate tax, depreciation, and other costs. Disposal: Once it is time for disposal, you are required to remove the asset from the enterprise in compliance with environmental regulations.

Various tools are available for asset management. However, it is important to realize that asset management is primarily a process, and the tools aspect is just a small aspect of it. Since every organization is unique, with its own unique needs and strategies, the ideal asset management process for each organization differs.

About the author:

Chris Tolamalu is interested in asset management.

 

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Management - Wikipedia, the free encyclopedia
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Management
International review on management research. Peer-reviewed, occasional. Ejournal, with tables of content, abstracts and full articles available on-line.
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Advances the human resource profession to ensure that HR is recognized as an essential partner in developing and executing organizational strategy.
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Agency of the US government tasked with Disaster Mitigation, Preparedness, Response & Recovery planning.
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Object Management Group
Distributed object computing industry standards group founded in 1989. Defined standards include CORBA and IIOP.
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Management Reading | Global Executive | Business | Economist.com
The one management thinker every educated person should read Nov 17th 2005 ... The story of Emerson's successful management process is fascinating. ...
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Emerald: Home
Publisher of journals in management and library and information services, engineering, applied science and technology.
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Yale School of Management
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