Asset Glossary
A
Accumulated Depreciation
What Is Accumulated Depreciation? Accumulated depreciation is the total depreciation expense recognized for a fixed…
Learn More →Agent Based Discovery
What is Agent Based Discovery? Agent-based discovery is one of the ways IT assets can…
Learn More →Agentless Discovery
What Is Agentless Discovery? Agentless discovery is an IT asset discovery method where a central…
Learn More →Amortization
What is Amortization Amortization is a financial accounting practice applied to intangible assets and loan…
Learn More →Asset Assignment Form: Definition, Template & Benefits
What Is an Asset Assignment Form? An asset assignment form is a document that records…
Learn More →Asset Availability
What is Asset Availability? Asset availability, often referred to as equipment availability, is a critical…
Learn More →Asset Barcoding
What is Asset Barcoding? Asset barcoding is a streamlined and cost-effective method used by businesses…
Learn More →Asset Componentization
What is Asset Componentization? Asset componentization is a strategic approach frequently employed for property, plant,…
Learn More →Asset Custody
What Is Asset Custody? Asset custody defines the responsibility an individual or organizational unit holds…
Learn More →Asset Decommissioning
What Is Asset Decommissioning? Asset decommissioning is the formal process of removing an asset from…
Learn More →Asset Exception Management
What Is Asset Exception Management? Asset exception management is a structured workflow for handling discrepancies…
Learn More →Asset Geofencing
What is Asset Geofencing? Asset Geofencing utilizes technologies like GPS or RFID to establish virtual…
Learn More →Asset Impairment
What is Asset Impairment? Asset impairment refers to a situation where the market value of…
Learn More →Asset Insurance
What is Asset Insurance? Asset insurance, often referred to as property and casualty insurance, is…
Learn More →Asset Lifecycle Cost: Formula & Calculation Guide
What Is Asset Lifecycle Cost? Asset lifecycle cost is the sum of all costs associated…
Learn More →Asset Loss Prevention
What Is Asset Loss Prevention? Asset loss prevention includes practices and controls that protect physical…
Learn More →Asset Management vs. Inventory Management: What’s the Difference?
What Is Asset Management? Asset management is the discipline of controlling physical assets throughout their…
Learn More →Asset Manager: Role, Responsibilities, KPIs & Cross-Functional Dependencies
What Is an Asset Manager? In the context of fixed asset management, an asset manager…
Learn More →Asset Register Accuracy
What Is Asset Register Accuracy? Asset register accuracy measures how well each entry in the…
Learn More →Asset Request (IT Asset Requisition): Fields, Workflow & Best Practices
What Is an Asset Request? An Asset Request is the starting point of the controlled…
Learn More →Asset Retirement: Process, Accounting & Documentation
What Is Asset Retirement? Asset retirement is the controlled process of permanently withdrawing a fixed…
Learn More →Asset Salvage Value: Definition, Estimation & Role in Depreciation
What Is Asset Salvage Value? Asset salvage value is the expected recovery amount at the…
Learn More →Asset Tracking Policy: Purpose, Scope, Controls & Recommended Structure
What Is an Asset Tracking Policy? An asset tracking policy is the formal document that…
Learn More →Asset Transfer:Process, Controls & Documentation
What Is an Asset Transfer? An asset transfer is any event in which a fixed…
Learn More →Asset Users: Role, Custody Responsibilities & Accountability Framewor
Who Are Asset Users? An asset user, sometimes called an asset custodian, is the person…
Learn More →Asset Utilization: Formula, Benchmarks & Improvement Strategies
What Is Asset Utilization? Asset utilization is the ratio of actual productive use time to…
Learn More →Asset Write-Off
What Is an Asset Write-Off? An asset write-off reduces an asset’s net book value to…
Learn More →C
Cash Generating Unit (CGU): Identification & Impairment Testing
What Is a Cash Generating Unit (CGU)? IAS 36 defines a Cash Generating Unit (CGU)…
Learn More →Chain of Custody
What Is Chain of Custody? Chain of custody is a continuous record of who held…
Learn More →Configuration Management Database (CMDB): Structure & ITAM Integration
What Is a Configuration Management Database (CMDB)? A Configuration Management Database (CMDB) is a structured…
Learn More →E
Endpoint Management: Scope & Connection to Hardware Asset Lifecycle
What Is Endpoint Management? Endpoint management is the discipline of controlling and maintaining the devices…
Learn More →Estimated Useful Life: Definition, Determination & Impact on Depreciation
What Is Estimated Useful Life? Estimated useful life (EUL) refers to management’s estimate of how…
Learn More →F
Facility Management: Definition, Scope & Connection to Fixed Asset Tracking
What Is Facility Management? Facility management is the coordination of physical workplaces with the people…
Learn More →Fixed Asset: Definition, Examples & Full Accounting Lifecycle
What Is a Fixed Asset? A fixed asset, also called a non-current asset, long-term asset,…
Learn More →Fixed RFID Reader: Definition, Types, Installation & Asset Tracking Use Cases
What Is a Fixed RFID Reader? A fixed RFID reader is an RFID scanning unit…
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L
Lease Accounting: Classification, Standards & Balance Sheet Treatment
What Is Lease Accounting? Lease accounting is the accounting discipline that determines how a lease…
Learn More →Leased Assets: Definition, Operational Tracking & Accounting Treatment
What Are Leased Assets? Leased assets are physical assets, such as equipment, vehicles, buildings, machinery,…
Learn More →N
Net Book Value (NBV): Definition, Formula, Example & Key Distinctions
What Is Net Book Value (NBV)? Net book value, also called carrying value or book…
Learn More →Network Inventory: Definition, Collection Methods & Role in IT Asset Management
What Is Network Inventory? Network inventory is the process and output of discovering, documenting, and…
Learn More →Noncurrent Assets: Definition, Types, Examples & Balance Sheet Treatment
What Are Noncurrent Assets? Noncurrent assets, also called long-term assets, represent resources that an organization…
Learn More →R
Real-Time Location System (RTLS): Definition, Technologies & Enterprise Use Cases
What Is a Real-Time Location System (RTLS)? An RTLS is an integrated system of hardware…
Learn More →Return on Fixed Assets (RoFA): Formula & Interpretation
What Is Return on Fixed Assets (RoFA)? Return on fixed assets (RoFA), also referred to…
Learn More →RFID Readers: Definition, Types, Selection Criteria & Asset Tracking Applications
What Is an RFID Reader? An RFID reader also called an RFID interrogator — is…
Learn More →RFID Tags
What Are RFID Tags? An RFID tag is a compact device that contains a microchip…
Learn More →Right-of-Use Asset
What Is a Right-of-Use Asset? A right-of-use asset represents the economic benefit a lessee gains…
Learn More →S
Software Asset Management (SAM): Definition, Scope, Process & Best Practices
What Is Software Asset Management (SAM)? Software asset management is the discipline of controlling and…
Learn More →Straight Line Depreciation: Formula, Worked Example & Accounting Journal
What Is Straight Line Depreciation? Straight line depreciation (SLD) is a method of allocating the…
Learn More →W
Work Order Management: Definition, Types, Process & Asset Lifecycle Connection
What Is Work Order Management? A work order is a formal instruction to perform a…
Learn More →Written-Down Value: Meaning, Formula & Distinction from NBV
What Is Written-Down Value (WDV)? Written-down value originated as a term describing what remains of…
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