April 18, 2010

Asset Management

As an accountant, I always considered Asset Management from a financial perspective, the way you register the assets on the financial statements and the decisions the company makes on asset investment, projecting a return on investment depending on the relevance of the asset disregarding whether it is tangible or intangible.

After taking this module and read more about the topic, I can conclude that asset management is how the entire company is managed, this involves different elements which make the company a successful organization.

Everything is an asset, proccesses are  assets, people are assets, knowledge is an asset, systems are assets. At first I tried to quantify them and relate them to the Balance Sheet to have an specific value for every element, but this topic goes further than just numbers and accounts. Though, different entities may describe this approach in several ways: Assets to the accounting department, leased asset to facilities management, piece of production equipment to operations, inventory, maintainable asset to mechanical engineers,etc.

I know an asset is the good (tangible or intangible) that an organization holds and that will bring future benefits. But these goods can be linked to everything in the organization, and all of them deliver benefits either directly or indirectly, in a short term or long term. We are talking about all the resources that the company utilize to make the company work effectively, including processes, design processes, sharing knowledge, suppliers, customers, etc. All of these elements work dynamically and integrated to deliver quality.

I believe my concept of asset management has changed a lot, and whenever I think of it, I will not just think of fixed assets, cash, receivables, software, etc. there is more than the accounts displayed in a Balance sheet, and we need to find the best practices to manage all these assets.


- 3 comments by 1 or more people Not publicly viewable

  1. Sue

    “The weather is here; I wish you were beautiful.”

    Written by a foreigner trying to get to grips with postcard writing.

    18 Apr 2010, 23:02

  2. wot…who are you?, and who cares about the weather…lol

    18 Apr 2010, 23:59

  3. Sue

    I’m my own best friend though I have others. I’m here to find a suitable blog outlet.

    19 Apr 2010, 07:10


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