Every company must take actions to safeguard, control, and manage the assets it owns. Every employee is responsible to follow policies and procedures to safeguard the company's assets. Cash Assets needs to be managed effectively to safeguard and utilize them efficiently. In this section, we will start with understanding what are assets, what are various classification of assets and then we will focus on Asset Management.
Asset management refers to the system of monitoring and maintaining assets effectively and efficiently. It applies to both tangible assets and intangible assets. Asset management is a systematic process of operating, maintaining, and upgrading assets cost-effectively. In this section you will learn about assets, asset management, asset classification, investment management and enterprise asset management. Enterprise asset management refers to the business processes that support management of an organization's assets. We will cover physical asset management as well as fixed assets management.
We will also learn about “IT Asset Management” and asset life cycle management and strategic decision making in the IT environment. This section will conclude with a brief discussion about digital asset management. These lessons will also provide you with the knowledge and skills you require to apply internal control principles and to effectively manage assets.