Writing a asset list templates is very important for your business. By this list you know the asset and inventory that you have in you business. It is also a good idea for you if you can can review and check the list more detail and often. In case you need some asset list templates you can check out this articles.
Asset list management that deals with technical, financial valuation and ideal management practices.This procedure is very necessary because it is useful as a basis for decision making in order to achieve business objectives in general.From this asset management, a company can choose whether this acquired asset will be maintained until its useful life, increase its quantity, or replace it in order to increase production.
Definition of Asset list management
Asset list is a list of Inventory Asset. Asset management or good wealth management, implementing the following eight stages,
Planning for asset requirements
This is the earliest stage of wealth management activities. Its activity is to plan what needs are needed to support asset management, for example carrying out an inventory. Asset list is important.
Acquisition of assets
Then carry out procurement activities for the items needed by the organization, and how to get them.
Inventory of assets
After that, the quality and quantity of assets owned are identified, both physically and non-physically. Each asset is assigned an identity or code to make it easier to manage. Asset list very needed to check the inventory assets.
Legal asset audit
Perform asset audits, both in terms of rights, ownership, transfer procedures, and others related to organizational regulations.
Operation and maintenance of assets
Assets list owned can be used to support work and achieve organizational goals.
Valuation of assets
Provide value to all organizational assets. The goal is to find out how much the company’s assets are from an economic perspective.
Renewal of assets
If there are assets list that are deemed ineffective for reuse, it is necessary to renew them.
If the asset is completely unusable, it can be written off. This deletion does not mean that goods are simply thrown away, but can be transferred to other parties by way of selling, auctioning and giving away. In general, asset management is a monitoring system that maintains everything that is of value to an organization. The thing of value is in the form of assets, both tangible and intangible.
Apart from monitoring, asset list management is also responsible for operating, maintaining and developing assets for the benefit of the organization. Meanwhile, assets that are considered burdensome to the organization must be put aside in order to maintain cost effectiveness.
Asset List management objectives
Designing asset management in general aims to assist companies in making the right decisions. With these right decisions, companies can manage, maintain, and use assets effectively and efficiently.
In determining asset management objectives, employers and the management team need to look at multiple points of view. The efficiency and effectiveness that can be achieved from this asset list management can be judged by the success achieved. Some of the other objectives in asset list management are:
- Ensuring the ownership status of an asset so that other parties do not recognize it.
- Make an inventory of the assets and useful life of owned assets.
- Maintain high asset value and have a long service life or life.
- Minimizing costs during the life of the asset is still there or not damaged. Cost here is defined as the budget that must be incurred for damage, maintenance, or servicing.
- Ensuring an asset can generate maximum profit.
- Achieve optimal use and utilization of assets.
- Safeguarding assets owned by the company.
- Reference in preparing the balance sheet in accounting books.
Asset management function and its urgency in the company
Assets in accounting are assets owned by a company or entity. Every company, for example, must have at least one fixed asset, namely land or buildings to carry out production, even though the land or building is rented . This asset is the most important part of the company that must be managed properly. Therefore, asset management is an important point in management. Here are some points that demonstrate the function and urgency of asset list management in companies.
- Maintain value
In order to make it easier to understand the first point of the urgency of this management, we are likening it to owned vehicle assets. For example, we don’t want the after-sales value of the company’s car assets to drop because they are only considered used cars.Although, electronic goods and vehicles are bound to experience depreciation or depreciation, through proper asset management, for example keeping the car body smooth, the engine being regularly serviced, and so on, the after-sales value of the company’s cars will not fall.
Through asset list management, companies can take several appropriate actions such as providing adequate operating costs. In addition, the company can also maintain the value of its assets by owning more than one car to prevent it from being damaged quickly due to continuous use. Or as a preventive measure, it can be a consideration for the decision to use vehicle insurance services, rather than having to bear a higher risk of damage.
- Monitor depreciation
Maybe only land or land that is a company asset and is not depreciated. The rest will certainly experience depreciation, both in terms of function and value. Therefore, good asset management can help entrepreneurs monitor the depreciation of their assets..
- Simplify budget preparation
This third point is also very important because asset management makes it easier for companies to prepare financial planning. Some of the posts that will be facilitated by this management are the preparation of funds for purchases, maintenance of machines to operational vehicles, and other costs that must be recorded in company accounting.This invertory asset list also related with budget.
- Reducing excess spending
Checking the company’s cash balance is an easy way to find out what budget you have. However, without proper asset management, large cash in the company can be used for things that are not really important.Without this asset management, the company is likely to over-purchase items that end up not being used. For example, a restaurant owner who buys too much food when he opens a restaurant. Of course this has an impact if the restaurant has not been visited by too many consumers.
Asset List Example
Asset List Template
Asset List Sample
There are several examples of asset lists. The templates used also vary. You can use documents in PDF, Word, and Excel formats. In addition, there are also several applications that will be more sophisticated to use for asset lists, for example the Simaset application, VemaFATS, Equip ERP. Items that included in the asset list, namely name of goods, description or description of goods, code of goods, quantity and also date of entry and exit.
Thus the detailed information about the asset list template, I hope this article is useful.