Manage Physical Asset
THHGLE 16B
Student Name
Student ID
Arunsri Boontham
C05719
Asset Card
Asset Name : Fridge
Asset No: 1234
Date Purchased : 09 sep 2009
Purchase From : IKAE
Location : Richmond
Estimated Useful Life : 4 years
Serial/Registration Number:5678
Residual value : 8,000
Date
Straight Line Method
Diminishing balance method
9 sep 10
9 sep 11
9 sep 12
12,000
8,000
4,000
12,800
10,240
8,192
Cost price of the asset
Purchase price
Delivery charge
Installation cost
Total cost price
15,000
500
500
16,000
By straight line method
Annual Depreciation Amount : 16,000/4 = 4,000
By Diminishing balance method
Percentage rate of depreciation is 20 %
20% of 16,000 is 3,200
20% of 12,800 is 2,560
20% of 10,240 is 2,048
16,000 – 3,200 = 12,800
12,800 – 2,560 = 10,240
10,240 – 2,048 = 8,192
Estimated residual value is 8,000
Final adjustment is 192
Asset Card
Asset Name : Oven
Asset No: 5678
Date Purchased : 01 Jan 2009
Purchase From : Harvy Noman
Location : CBD
Estimated Useful Life : 4 years
Serial/Registration Number:1008
Residual value : 10,000
Date
Straight Line Method
Diminishing balance method
1 Jan 10
1 Jan 11
1 Jan 12
16,500
11,000
5,500
12,800
10,240
8,192
Cost price of the asset
Purchase price
Delivery charge
Installation cost
Total cost price
20,000
1,000
1,000
22,000
By straight line method
Annual Depreciation Amount : 22,000/4 = 5,500
By Diminishing balance method
Percentage rate of depreciation is 20 %
20% of 22,000 is 4,400
20% of 17,600 is 3,520
20% of 14,080 is 2,816
22,000 – 4,400 = 17,600
17,600– 3,520 = 14,080
14,080– 2,816 = 11,264
Estimated residual value is 10,000
Final adjustment is 1,264
Task Part 2 - Asset management
Pro - Forma
Asset Name : Oven
Asset No: 5678
Date Purchased : 01 Jan 2009
Purchase From : Harvy Noman
Location : CBD
Estimated Useful Life : 4 years
Date
Location
Serial/Registration Number:1008
Residual value : 10,000
Condition
Action
Safety
Maintenance Schedule
Asset Name : Oven
Asset No: 5678
Date Purchased : 01 Jan 2009
Location : CBD
Estimated Useful Life : 4 years
Date of service
Next Service
Serial/Registration Number:1008
Supplier detail : SunCorp electric
Contact detail : 97864545
Maintenance and repair : Mr. Steve
Condition
Incident Report
Date of Incident
Task Part 3 – Maintenance buget
\Replace an existing car with a new car that cost 35,000$
Budget Items
Car
Budget 2009$
40,000
Actual 2009$
35,000
Variance
(5,000) +
Overall positive budget variance of new car is 5,000 $
Purchase a new computer with software relevant
Budget Items
Computer + software
Budget Nov’09
25,000
Actual Nov’09
15,000
Overall positive budget variance of new computer is 10,000 $
Variance
(10,000) +
Improvement to the toilet and staff room facilities
Capital Items
Refurbishment
Painting staff room
Changing toilet tiles
Shrink repair
Locker replacement
Total refurbishment
New shrink
New locker
Tiles
New table in staff room
Microwave
Coffee machine
Total Purchases
Total capital budget in April
Budget Apr’09
Actual Apr’09
1,000
2,500
1,000
1,000
5,500
400
1,000
2,500
400
200
500
5,000
10,500
500
2,000
500
1,000
3,000
200
1,000
2,000
200
200
400
4,000
7,000
Reasons for your specific proposals
Car
Computer
Toilet and staff room facility
To improve security and safety
To improve operation by adopting new efficient
practice
To motivate the staffs to do their good job by provide
more convenient facility and hygiene toilet
Type of insurance to suit these asset should be Physical Asset Insurance