Each asset will need its own "account", or area to store the information. the following information is necessary for each account:Description: The description should be able to distinguish the specific asset from other similar assets. Serial number: (identification of manufacturer) or ID assigned by the Utility (*)LocationClass of assetDetails of technical information: (size, flow, capacity, material, etc..)Date of Acquisition: Include the date the asset was purchased/installed, constructed.Cost of acquisition: Include the price the item was acquired atInsurance coverage: Include any details regarding the insurance policy for the asset, Date asset placed in service: List the first day of usage for the asset.Elements of depreciation of the asset: depreciation period, salvage value Depreciation method: according to Local rules, Accumulated depreciationNet book value(*) It would be advisable to use a scientific numbering technique to identify fixed assets. A tagging process with barcodes for numbering fixed assets.
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