Is stapler an asset

Answer 1

For something to be an asset it has to meet all of these requirements.

Is it a resource? yes

Is it controlled by the business? yes

Is it a result of a past event? yes

Is the value reliably measured? i.e.) R40 from slip Yes

Will it result in economic benefit? This is the tricky part. It depends how you justify it. future economic benefit is anything you can justify that will benefit the business.

If it is not material then it is recorded nowhere. (the entry does not exist.)

If it was stolen people could do an asset disposal provided it is material. Most people assume a stapler is an expense. It could be either. It just depends on how you justify it.

I like to think it is an asset as it utilizes staples to organise and bind paperwork in the work place to improve productivity and organise the office better thus economic benefit is obtained but other Accountants have different views.