Business Area Data Model

Property & Equipment

Property & Equipment are the tangible or intangible 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.

Organizations need to maintain, track and value assets for financial reporting, tax compliance, internal control and asset management to answer key questions:

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.

AssetRepairs
LocationUtilization
Responsible OrganizationReplacement Value
AssessmentAsset Appropriation
DepreciationBudget/Budget Item
Salvage ValuePayback Period
Responsible OrganizationRate Of Return
Maintenance

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