Fixed Asset Acquiring, Disposal and Maintainace Procedures of Dem Collective
ABSTRACT
An organization, whether it is in the primary sector, secondary sector or the tertiary sector would use fixed assets or non-current assets. Fixed assets can vary from buildings and premises to cars or the equipment used. Whatever the case proper management of fixed assets is needed. By this we mean providing proper depreciation, spending on maintenance and repair as well as adjusting the accounts clearly and accurately to show the changes in fixed assets.
This project looks at the procedures involved in acquiring fixed assets and the disposal of fixed. It also uses accounting ratios to analyze the workings of the company and to make a fair judgment of whether the organization has been effective or not in its acquiring, disposal and maintenance of fixed assets. The authors selected DEM COLLECTIVE LANKA as its case study company and it is their accounts that were used in this project.
KEY WORDS: depreciation, acquiring, disposal, accounting ratios
TABLE OF CONTENTS
Abstract………………..………………………………………………………………….ii
Acknowledgement………………………………………….……………………………iii
CHAPTERS CHAPTER ONE INTRODUCTION................................................................................................1 ORGANISATION STRUCTURE.......................................................................4 TYPES OF FIXED ASSETS FOR THE LAST 5 YEARS.................................5 VALUE OF FIXED ASSETS FOR THE LAST 5 YEARS................................6
CHAPTER TWO FIXED ASSET ACQUIRING PROCEDURE...................................................12 DOCUMENTS INVOLVED.............................................................................16 STRENGTH AND WEAKNESS......................................................................19
CHAPTER THREE FIXED ASSET DISPOSAL PROCEDURE..................................................... 20 DOCUMENTS INVOLVED............................................................................ 22
An organization, whether it is in the primary sector, secondary sector or the tertiary sector would use fixed assets or non-current assets. Fixed assets can vary from buildings and premises to cars or the equipment used. Whatever the case proper management of fixed assets is needed. By this we mean providing proper depreciation, spending on maintenance and repair as well as adjusting the accounts clearly and accurately to show the changes in fixed assets.
This project looks at the procedures involved in acquiring fixed assets and the disposal of fixed. It also uses accounting ratios to analyze the workings of the company and to make a fair judgment of whether the organization has been effective or not in its acquiring, disposal and maintenance of fixed assets. The authors selected DEM COLLECTIVE LANKA as its case study company and it is their accounts that were used in this project.
KEY WORDS: depreciation, acquiring, disposal, accounting ratios
TABLE OF CONTENTS
Abstract………………..………………………………………………………………….ii
Acknowledgement………………………………………….……………………………iii
CHAPTERS CHAPTER ONE INTRODUCTION................................................................................................1 ORGANISATION STRUCTURE.......................................................................4 TYPES OF FIXED ASSETS FOR THE LAST 5 YEARS.................................5 VALUE OF FIXED ASSETS FOR THE LAST 5 YEARS................................6
CHAPTER TWO FIXED ASSET ACQUIRING PROCEDURE...................................................12 DOCUMENTS INVOLVED.............................................................................16 STRENGTH AND WEAKNESS......................................................................19
CHAPTER THREE FIXED ASSET DISPOSAL PROCEDURE..................................................... 20 DOCUMENTS INVOLVED............................................................................ 22
References: (DEM corporate website, 2010) 1.1.3 PRODUCTION Figure 1: Production Process (DEM corporate website, 2010)