ASSET MANAGEMENT

Asset management can be defined as a systematic process which can be used to identify, monitor, maintain, catalogue, operate, upgrade and replace any physical assets of a business on a given basis that is cost effective. In order for asset management to be effective, it needs to be constructed from a foundation that has the accepted principles of accounting and then kept to stand by strong business practices together with financial acumen. It provides the management with effective tools which can be utilized in deriving both the short term and…