Property & Equipment Business Area Model

Property & Equipment are the physical or tangible assets that are owned by the business or legal entity.

Assets must meet two requirements:

1 - Assets must be owned by the business or legal entity.
2 - Assets must have a money value.

Assets must be maintained, tracked and valued. Asset financial reporting is an important responsibility since the depreciation, incurred costs, improvements and similar costs involving the asset can dictate the replacement or ongoing usage of the asset.

The Property & Equipment Business Area Model is focused upon the data required to track, value and report assets within the organization.

>  Asset
>  Location
>  Responsible Organization
>  Assessment
>  Depreciation
>  Salvage Value
>  Responsible Organization
>  Maintenance
>  Repairs
>  Utilization
>  Replacement Value
>  Asset Appropriation
>  Budget/Budget Item
>  Payback Period
>  Rate Of Return

The PROPERTY & EQUIPMENT Business Area Model integrates with the Accounting & Financial Reporting Business Area Model to provide the links to the organization's financial accounting and reporting data.

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