Asset Management

Asset Management is the management and control of an organization’s assets throughout their life cycle. AFIS provides for the management and control of both Fixed Assets and memo asset records. 

A Fixed Asset is equipment or property that is not consumed and has a useful life of more than one year. Examples of Fixed Assets include: land, buildings, equipment, bridges, laptops, vehicles, and other such long-standing improvements. An asset is classified as a Fixed Asset, for accounting purposes, if it is designated as one of the following: 

• Intended for internal use, not for resale
• Has a useful life extending beyond the current fiscal year
• Has a monetary value in excess of a specified threshold

The following resources listed below will assist with processing and navigation for Asset Management: