The paper "Hospitality Management: Policies and Procedures for Company Assets That Need Maintenance" is a wonderful example of an assignment on management. Part 1 of this report deals with the proposed asset register that is crucial to the development of the company’ s asset program as it can help preserve and maintain detailed information of each and every asset a company owned. This part also includes the asset register structure, an asset labeling system that can be used to quickly identify assets of all sorts, the use of double-declining-balance as a disposal method, and the appropriate procedures for reconciling the disposal of any asset every month.
Part 2 on the other hand discusses the policies and procedures for company assets that need maintenance. It also includes justifications for hiring contractors instead of existing staff to perform the much-needed maintenance. A sample memo for the staff is also included in the last section. Finally, Part 3 presents the organizational budget for new equipment procurement and a justified budget report. Introduction The register of assets would form the basis for the development of the company’ s asset program (Malano & Hofwegen 1999, p.
102) and the benefit of having an asset register for the equipment is preserving and maintains detailed information concerning the items that can be used to support managers in their depreciation and disposal policies (Edwards et al. 2003, p. 285). For this reason, the following section discusses the proposed asset register structure, asset labeling system, the proposed method of depreciation to be used for these assets, and the rationale for reconciling the disposal of any asset each month. Asset Register Structure Department Unique_Asset_ID Acquired Date Cost Specifications Warranty Depreciation Human Resources OFTBL-1234-HR June-27-2007 $123.00 Stainless steel frame with glass 1 Year 10%/Year Accounting Dept. PC-1234-ACC April-4-2009 $850.00 Dell Dual Core Series 2900 1 Year on Process and Board 5%/Year The different elements in the asset register have a specific purpose.
The ‘ Department’ will serve as the ‘ quick’ locator of the assets and the ‘ Unique_Asset_ID’ would provide the asset-specific details. The acquisition date or ‘ Acquired’ date along with the cost element is important as this will be the basis for asset warranty and depreciation calculation.
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