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asset checklist
1. Inventory Management
Verify asset identification numbers
Count physical items on hand
Update inventory records
Check for duplicates or missing items
2. Condition Assessment
Inspect each asset for damage or wear
Test functionality of equipment
Document any repairs needed
Evaluate the remaining useful life of each asset
3. Compliance and Documentation
Review ownership documentation
Ensure compliance with relevant regulations
Update insurance information
Confirm maintenance records are up to date
4. Financial Evaluation
Assess current market value of assets
Verify depreciation schedules
Update financial records accordingly
Review asset allocation in budget
5. Disposal and Write-off Procedures
Identify assets for disposal or write-off
Evaluate resale value or recycling options
Document disposal procedures followed
Update inventory and financial records post-disposal
6. Future Planning
Identify potential new asset needs
Assess technology upgrades or replacements
Plan for budget allocation for new assets
Schedule regular review periods for asset management
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