These long-term fixtures must be analyzed on a regular basis in order to decide their future market value for a company. Assetsystems.com (2010), states that, "One of the most common barriers in implementing an asset management system is the reconciliation of existing records to the results of the new system." Often, how assets have been inventoried or managed, is the first factor that must be considered by retrieving the most accurate information regarding each of the companies assets.

Finding the history of the managed asset will help determine the other factors that are essential to knowing if the asset should be replaced or fixed. The cost of the asset, the estimated lifespan of the asset, and the residual value of the asset also should be determined in order to influence the decision. The cost would include any amount that has been incurred to gain possession of the asset and any...
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