0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Are patents intangible assets?
patents are intangible assets as these have not physical existence. patent is a right to use something which is not physical that's why it is an intangible asset.
Is asset and expense similar?
No, they're very different
How does one define intangible assets?
One may define intangible assets as meaning an asset that is not physical in nature or not monetary. An example of such an asset would be intellectual property.
Where can someone get asset inventory software?
Someone is able to get asset inventory software in several different online and retail locations including the following: BNA Asset Inventory Software, Asset Inventory Plus, and on IM Solutions.
Is good will current or non current asset?
1. Goodwill is an intangible asset as it doesn't have any physical existence it can be treated as fixed assets as goodwill is generally amortized in more than one fiscal year like any tangible asset
What is the difference between asset bom and maintenance bom?
Asset BOM is asset BOM and maintenance BOM is maintenance BOM :P Asset BOM means all the parts of an equipments and maintenance BOM is the spares required for maintenance.
What is a Maintenance Technician?
a Maintenance Technician is somebody who Maintain the day-to-day operations and to assume responsibility for maintaining the physical asset of property under the direction of the Property/Operations Manager.
What is asset management performance, and how does it differ from asset performance management?
Asset management performance refers to the overall effectiveness of a company's asset management strategy, which includes asset acquisition, maintenance, and disposal. This strategy is typically guided by a set of policies and procedures aimed at maximizing the value of the company's assets over their entire lifecycle. Asset performance management (APM), on the other hand, is a subset of asset management that focuses specifically on the maintenance and performance of physical assets. While asset management performance encompasses the entire lifecycle of an asset, from acquisition to disposal, APM is primarily concerned with optimizing asset performance, reducing downtime, and improving maintenance practices. Both asset management performance and APM are critical to the success of a business, as they enable companies to maximize the value of their assets, reduce costs, and remain competitive in their respective industries.
What requirements must be met to record an asset?
there are three requirements: 1) the asset must be owned by the entity, 2) the asset must has a monetary value, and 3) the monetary value of the asset must be objectively measurable.
What is Physical vs Financial Capital Maintenance?
Capital maintenance: Accounting concept that a profit can be realized only after capital of the firm has either been restored to its original level (called 'capital recovery') or is maintained at a predetermined level. It is necessary, therefore, to determine the value of capital before the amount of profit can be computed. Capital maintenance (paid from the capital funds budget) is the work performed using a systematic management process to plan and budget for known cyclical repair and replacement requirements that extend the life and retain the usable condition of facilities and systems. This includes what is commonly known as “deferred maintenance”: work that has been deferred on a planned or unplanned basis to a future budget cycle or postponed until funds are available; when the work is performed the deferred maintenance backlog is reduced. Physical maintenance: Physical Asset Management defines a "best way" of managing corporate physical assets to gain greatest return. It blends the best processes, practice and technology used effectively by industry leaders to assure highest effectiveness in your specific business, operating, organizational and material conditions. The purpose of Physical Asset Management is to ensure that the means of production/operation are available to meet mission, availability, yield, schedule, quality, and cost commitments effectively at optimum return. Physical Asset Management consists of a mix of processes, systems, practices, and technologies strategically implemented to achieve a specific mission and/or objectives. It considers market, business, and operating conditions; related opportunities; and site-specific conditions and requirements.
The major difference between the service life of an asset and its physical life is?
service life refers to the time an asset will be used by a company and physical life refers to how long the asset will last.
Why repair and maintenance are not included in capitalisation of fixed assets?
Expenditures that increase the capacity or economic lifetime of an asset are capitalized, since they have 'future value'. Payments such as repair and maintenance do not increase the capacity, but instead, prevent the detoriation of the asset. In other words, these expenses are incurred so that the asset keeps its value.
What's asset allocation fund and is it good for current market?
This depends on the company that you are doing the investments with. Each company has different requirements which are needed for an investment account.
What are some names of predictive maintenance software?
CMMS can help you find reputable predictive maintenance software that is right for you. They will show you different packages and give you free quotes as well as tell you what you need to be familiar with.
Which sub-process of property plant and equipment includes demand maintenance preventive maintenance and annual planning functions?
Real Property, Asset Accounting, and Plant Maintenance all include the above.
Which sub process of property plant and equipment includes demand maintenance preventive maintenance and annual planning functions?
Real Property, Asset Accounting, and Plant Maintenance all include the above.
Are patents intangible assets?
patents are intangible assets as these have not physical existence. patent is a right to use something which is not physical that's why it is an intangible asset.
