SITXFIN005 MANAGE PHYSICAL ASSETS

Assessment 2

The project for assessment 2 consists of 3 parts, Part A, B and C

Part A

Requires you to develop a resource acquisition plan for the acquisition of 3 different resources
from the following main categories:

buildings

computer systems

equipment fixtures, fittings and furniture in one of the following:

o accommodation establishments

o commercial kitchens

o restaurants and bars

o storage areas

o tourism, hospitality and event offices

o transportation depots

gardens

pools

rides and games

vehicles

vessels

Part B

Requires you to develop an asset register which needs to list the details for the 3 new physical
assets you have determined in Part A. You must include the maintenance requirements and
schedule of maintenance for each asset.

Part C
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Requires you to develop a resource management strategy which provides details on how the
efficiency of each asset is monitored

PART A – Acquisition Plan

Task:

You are required to choose 3 different physical assets, relevant for an organisation in the Tourism,
hospitality or event industries, which may include any of the following:

 buildings
 computer systems
 equipment fixtures, fittings and furniture in one of the following:

accommodation establishments
commercial kitchens
restaurants and bars
storage areas
tourism, hospitality and event offices
transportation depots

 gardens
 pools
 rides and games
 vehicles
 vessels

1. Provide an overview of the business activities of the organisation relevant to the physical assets
selected.

Three physical assets chosen are;

 Buildings

 Commercial Kitchen Equipment

 Vehicles.

Activities of Organization for management of Building include:

 Building maintenance requires regular inspection and to properly maintain building services
that include

 Maintenance of

 Lifts

 Air conditioning

 Automated fire detection and suppression systems

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 Emergency Evacuations testing

Activities of Organization for management of Computer System include:

 Hardware inventories.

 Server availability monitoring and metrics.

 Software inventory and installation.

 Anti-virus and anti-malware management.

 User's activities monitoring.

 Capacity monitoring.

 Security management.

 Storage management.

 Network capacity and utilization monitoring.

 Anti-manipulation management

Activities of Organization for management of Gardens include:

 Cleaning of garden on daily basis

 Hoses and sprinklers maintenance and repair if needed.

 Grass cutting from time to time.

 Security of asset to avoid theft and damage.

2. List the purpose of the acquisition or replacement of the physical assets, providing detailed
information what informs the decision to acquire these new assets.
Response:
Purposes for acquisition or replacement are;
 Assets are older than the life they were originally designed for.
 Repairing Cost of the Old Asset is more than acquisition cost.
 Failures to replace them have led to high energy consumption.
 Failures to replace them have led to high maintenance costs.
 Failures to replace them have led to increased risk of accidents and calamities.
 In economics and business decision making, the sunk cost is considered as the cost that has
already been incurred and cannot be recovered. If the sunk cost of existing asset is a
considerable amount, organisations try to keep their remaining assets till the end of
remaining life time of those assets.
 There are five cost elements which should be considered before replacing an asset with a
new one. They are, procurement cost (new machines ‘purchasing cost), holding cost (cost
occur when kept in new or ideal machine in warehouse) repairing cost (cost occur restoring
asset in sudden breakdown of failure), preventive maintenance cost (cost occur when doing
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preventive maintenance activity for retaining asset in good condition) and operations cost
(equipment running cost such as electricity cost, fuel cost).

3. Write an overview of specifications for each asset which clearly outline what requirements each
asset needs to fulfil in terms of capacity, performance, size, location requirements and maximum
budget for each or for the overall budget parameter.
Specifications for Building:

Building
Capacity:
Capacity is the maximum level of output that a company can sustain to make a product or provide a
service and the capability is the measure of the ability of an entity to achieve its objectives,
especially in relation to its overall mission .Building should be spacious enough to fulfil the
requirements.

Performance:
The performance of the asset is the ability to provide the required level of service to customers.
Generally this can be measured in terms of reliability, availability, capacity, and meeting customer
demands and needs.

 Size:
 At least 20 bedrooms with modern facilities
 Spacious parking for customers
 Dining area
 Reception
 Bathrooms
 Location

Nice location easily reachable with transport facilities and good weather conditions.

Budget:
Buildings or real estate are occupying greater part of total budget.

Vehicle:

We need minimum 5 food vehicles at the moment to give it a go to our delivery service. The budget
for the vehicles is $50,000. It should be a van with the temperature control fitted in that so that the
food remains hot/cold as required.

Commercial kitchen equipment’s;

It should include combination oven, double deep fryer, double freestanding hot plate, 6 burner gas
oven and large walk in cool room etc. There should be plenty of prep space and under bench fridges
plus a pass through dishwasher so clean up is a breeze. The budget fixed for that is $1,00,000.
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Gardens are located on ground floor. These assets add the beauty to building and not very expensive
to maintain.

4. Obtain 3 prices or quotes from different suppliers or sources for each asset. Attach the
correspondence and final quote received for each asset to this project.

Building
Quote 1: $88,000 Quote 2: $85,000 Quote 3: $60,000
Vehicles
Quote 1: $6,690 Quote 2: $10,000 Quote 3: $7,990
Commercial Kitchen Equipments
Quote 1: $90,000 Quote 2: $95,000 Quote 3: $1,00,000

https://www.gumtree.com.au/s-ad/jandakot/business-for-sale/restaurant-in-the-heart-of-
northbridge/1158052754
https://www.gumtree.com.au/s-ad/hillarys/business-for-sale/restaurant-for-sale/1158088950
https://www.gumtree.com.au/s-ad/joondalup/business-for-sale/cafe-restaurant-for-sale-
joondalup/1163838782
https://www.gumtree.com.au/s-ad/maddington/cars-vans-utes/2010-mitsubishi-express-mint-
condition-free-1-year-warranty/1163623225
https://www.gumtree.com.au/s-ad/malaga/cars-vans-utes/hyundai-iload-van-automatic-diesel-
/1165033657
https://www.gumtree.com.au/s-ad/victoria-park/cars-vans-utes/2005-ford-transit-van-lwb-mid-
roof-6-speed-manual/1162993294
https://www.hkn.com.au/
https://caterlink.com.au/
http://www.lennys.com.au/

5. Contact a financial institution and at least 2 different suppliers and obtain information on 3
different financing options available and costs (attach copies of your correspondence).

Financial institutions:

Financial institutions such as banks, building societies and credit unions offer a range of finance
products with both short and long-term finance solutions. Some products include

 business loans,
 lines of credit,
 overdraft facilities,
 invoice financing, equipment leases and asset financing

Grants

Foundations, governments, and other funders sometimes issue grants, repayable grants, or
program-related investments (PRIs) to fund clean energy and energy efficiency projects in mission-
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driven organizations. A grant is a direct donation (and is therefore not considered a loan or debt),
whereas a repayable grant comes with a requirement that the principal be paid back to the donor. A
PRI is a relatively new structure in which the donor issues a loan with an interest rate well below the
standard market rate, allowing the donor to count the PRI as a charitable donation as long as it
meets certain IRS requirements. These options are provided by a variety of local, regional, and
national organizations, and each program typically has its own target market and overarching goals.

Suppliers:

Most suppliers offer trade credit that allows businesses to delay payment for goods. The terms often
vary and trade credit may only be offered to businesses that have an established relationship with
the supplier.

6. Calculate the finance variants offered to you and determine the best options for each asset.
Your options need to include potential factors for depreciation, consideration for technology
changes and financial impacts on the organisation and financial aspects for which you will seek
specialist advice. (Your depreciation calculations must consider the current regulations published
on the ATO website).

Note: I assume the company is being in operations from the last 15 years and the credit limit is very
high.

Using the ATO’s website for calculation of depreciation. The depreciations are;
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Motor Van,

Commercial Kitchen Equipment.

Reference:

https://www.ato.gov.au/Calculators-and-tools/Depreciation-and-capital-allowances-tool/

Variance is (New amount – old amount)/old amount *100.

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7. Based on your calculations in Q.7, explain the official process that now needs to be followed to
finalise the acquisition of each asset. This may include processes in your existing workplace or
common industry standards and needs to provide:

 Requirements and documentation applicable to different acquisition and financing methods,

 Preparation of documentation for disposal of assets that are being replaced including tax
obligations.
 Details for detailed specifications,
 Legal contracts,

Resource securing includes procedures of arranging and checking physical resources amid their
valuable lives to the Government. Overseeing resources adequately requires an abnormal state of
administration intrigue and that the worry be kept up all through the period that the benefit stays in
Government Custody. The primary goal of advantage administration is to accomplish the slightest
cost answer for securing, utilize, support and transfer of benefits in accordance with the program
destinations. Along these lines, Physical Asset Management is the arranging, procurement, support
and transfer of (physical) resources with due respect for economy, viability and productivity, and in
addition full consistence with all pertinent government controls and strategy mandates.

Effective implementation of the principles of asset management will address programme costs in
terms of:

 maximising the service potential of existing assets;

 lowering the overall cost of owning assets through the use of life-cycle costing techniques;
and
 Ensuring a sharper focus on results by establishing clear accountability and responsibility for
assets.
 Reduced demand for new assets by adoption of ‘non-asset’ solutions.

Preparing Terms of Reference (TOR):

TOR shall define clearly the objectives, goals, and scope of the assignment and provide background
information (including a list of existing relevant studies and basic data) to facilitate the consultants’
preparation of their proposals. If transfer of knowledge or training is an objective, it should be
specifically outlined along with details of number of staff to be trained, and so forth, to enable
consultants to estimate the required resources. TOR shall list the services and surveys necessary to
carry out the assignment and the expected outputs (for example, reports, data, maps, surveys).
However, TOR should not be too detailed and inflexible, so that competing consultants may propose
their own methodology and staffing. Firms shall be encouraged to comment on the TOR in their
proposals. The Ministry’s and consultants’ respective responsibilities should be clearly defined in the
TOR. While preparing TOR, the issues mentioned in paragraphs 2.0 (Types of Consultancy Contracts-
avoiding percentage contracts as far as possible) and 3.0 (Conflict of Interest) must be kept in view.
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Financial Evaluation

An asset purchase agreement (APA) is used which is an agreement between a buyer and a seller that
finalizes terms and conditions related to the purchase and sale of a company's assets

A capital asset is an asset retained by an enterprise for the purpose of earning revenue. A capital
asset is not intended for sale in the ordinary course of business.

Capital assets include things like:

 motor vehicles
 manufacturing machinery
 office equipment
 Land and buildings.

If you sell, transfer or otherwise dispose of a capital asset, and you're registered or required to be
registered for GST, it's generally a taxable sale and you need to account for GST on the sale.

You must report the payment (or other consideration) you receive at G1 (total sales) on your activity
statement for the relevant tax period.

Reference:

https://www.ato.gov.au/Business/GST/In-detail/Rules-for-specific-transactions/Business-asset-
transactions/GST-and-the-disposal-of-capital-assets/ .
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Part B – Asset Register

Task:

1. Develop an asset register which lists the 3 assets determined in Part A. Your asset register
needs to include the following details:

 Asset Details
 Asset description/model/type
 Serial Numbers
 Purchase date
 Cost
 Depreciation amount (from when you undertake this assessment to the end of the
financial year). If you have no current value, then base this calculation on the
approximate price you have determined using the ATO guidelines.
 Closing Written Down Values (at the End of financial year where you undertake
this assessment)

Maintenance requirements and schedule for Building

In Part 12 under the Building Regulations 2006, essential safety measures are de ned as the re, life,
safety and health items installed or constructed in a building or place of public entertainment, to
provide for the safety of people.

These items may include:

 Passive re and smoke systems

 Emergency and exit lighting
 Stationary and portable re-equipment
 Automatic re detection & alarm systems
 Emergency warning and intercommunication systems
 Building clearance and re appliances
 Mechanical ventilation & hot, warm & cooling tower water systems.
 Building re integrity
 Means of egress
 Automatic re sprinkler systems
 Fire pump sets

Buildings constructed or altered since 1 July 1994

 For these buildings, the list of essential safety measures, including their performance level,
frequency and type of maintenance required would be included with your occupancy permit
or certificate of final inspection.
 You are required to prepare an Annual Essential Safety Measures report.
 For owners of Class 9 buildings and Class 2 to 8 buildings constructed or altered since 1 July
1994, must have a current copy of the building’s occupancy permit on display in the building.
 All reports and records of maintenance checks, safety measures and repair work are to be
kept on the premises for inspection and must be made available for inspection within 24
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hours of notification.
 Maintenance records can be in the form of maintenance record tags or log books. However,
the use of tags or labels shall not preclude the need for a separate maintenance record
system

Maintenance requirements for Commercial kitchen

We need to ensure commercial kitchens deliver a high standard in food production, employee
welfare and profitability.

 Kitchen exhaust cleaning

 Audit clean
 Compliance inspection
 Filter exchange
 Commercial kitchen equipment cleaning
 Site inspection
 Commercial fitouts and installations
 Emergency breakdowns
 Commercial kitchen cleaning

Schedule
Daily:

 Change foil linings of grill, range, and flattop

 Disinfect prep surfaces
 Wipe down and clean your grill, range, flattop, and fryer. Don't forget to clean behind and
underneath this equipment, too!
 Wash can opener
 Wash meat slicers
 Wipe down walls wherever there are splashes
 Mop floors
 Wash beverage dispenser heads in soda fountains
 Clean popcorn machine
 Disinfect waste disposal area to prevent pests and the spread of bacteria: mop floors around
cans, and wash the exterior and interior of each can
 Run hood filters through the dishwasher

Weekly
 Wash and sanitize walk-ins
 Delime sinks and faucets
 Clean ovens, including the walls, sides, and racks
 Use drain cleaners in floor drains

Monthly

 Clean coffee machine

 Empty grease traps
 Clean ice machine (can be done every several months)
 Clean refrigeration coils to remove dust
 Wash walls and ceiling to remove grease build-up
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 Wash behind hot line to prevent clogs

 Clean and sanitize freezers
 Change pest traps
 Wash vent hoods (can be done every several months)

Maintenance requirements and schedule for Vehicles

Following are a few tips you can follow to maintain your commercial van.

The need for having a preventative maintenance schedule

When you buy a Ford Van, you will get the recommended maintenance schedule from the
manufacturer. It is important to follow the schedule. If you read the instruction manual and follow
the points closely, it will not be difficult to maintain one or multiple Ford vehicles.
Have your own maintenance schedule prepared by outlining the dates when the maintenance or
servicing of Ford vehicle is needed. You need to maintain service record and ask drivers to report the
odometer reading. This way, nothing will be missed out. So, preventative maintenance schedule
must be prepared as per the services recommended by the manufacturer.

Adjust your maintenance schedule as per the driving condition

Those truck drivers who are carrying a lot of weight in the truck or are frequently towing the
vehicles, driving through the dust may require more of maintenance work. Frequently starting the
vehicle and stopping it may take a toll over the vehicle. All such things must be kept in the mind.

Drivers must be made to report problems

When you give training on how to drive your commercial vehicle, it is important to ask them to
report strange sounds from the vehicle, irregular lights immediately when encountered. The ones
who are driving the Ford can help you to save a lot of repair costs.

Using technology to your benefit

If the fleet is extremely large, it will be tough to manage it. Ford vans and commercial vehicles are
such that they may conveniently integrate with popular fleet management tools and programs. So,
no important maintenance milestone can slip through the cracks in this manner.

Prepare a custom maintenance schedule

As already stated, the maintenance of Ford vehicle depends on the driving condition. Every
commercial vehicle is different and so you must prepare custom maintenance schedule. You can use
the digital programs to prepare such a maintenance schedule.

Monitor each and every aspect of the vehicle for better fleet management

It is important to use digital programs to monitor mileage, to create the maintenance schedule, to
store the maintenance record and to monitor the costs. The automated software can help in
reducing the man-hours and increasing the fleet management accuracy.
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2. Develop a maintenance register and identify the maintenance requirements for each asset
accordingly. For some assets that might be determined through lease clauses or service contract
agreements. If so, include these including the details. For the remaining assets consult the user
manuals or manufacturer’s recommendations with consideration to frequency of use relevant to
your organisation. For example if a post-mix machine or coffee machine is connected to water
filter then this needs to be reflected in the maintenance requirements.
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Part C – Resource management strategy

Task:

1. Develop a maintenance regime for each asset based on the maintenance requirements you
have determined in Part B.
REGIME FOR BUILDING:

Description of Service Frequency of Service

Empty waste baskets Daily
Dust Furniture Daily
Clean Washrooms Daily
Restore paper and soap dispensers 2 times a week
Floor sweeping Daily
Window Cleaning weekly
Checking working condition of Monthly
Lifts
Lights
Air conditioner
Colour and paint Yearly

REGIME FOR Vehicles,

 Daily: Backup your data.

 Weekly: check your machines.
 Monthly: do the service
 Monthly: Scan your all documents and keep it in hard drive.
 Twice a Year: Backup your hard drive as an image. Also check the machines if anything need
to be replace then replace it.

REGIME FOR Commercial Kitchen Equipment.

 Daily : cleaning
 Daily : watering plants
 Monthly : Weed removal
 Monthly : Grass cutting
 Seasonal clean-up
 Yearly : New plants growing

2. The maintenance regime needs to include the following details and outline how each aspect is
affected and as a result addressed:

Reporting and monitoring mechanisms to ensure assets are functioning effectively and issues are
reported by using correct and suitable procedures including provisions for specialist advice for
complex issues.
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3. Provisions for collecting feedback from customers and reports from staff. When customers
share their story, they’re not just sharing pain points. They’re actually teaching you how to make
your product, service, and business better.

 Believe that customers possess good ideas.

 Focus on continual improvement.
 Don’t spend vast sums of money doing it.
 Make it easy for customers to provide feedback

4. Types of maintenance required including common routine maintenance based on the

organisation’s activities for example adjusting doors, fixing furniture, cleaning air-conditioning
filters in guest rooms, etc.

 Locks, excluding work that must be carried out by a professional locksmith

 Supply and fitting of light tubes and globes
 Replacement of castors on chairs
 Regular inspections of gutters and down pipes
 Cleaning of silt and acid traps
 Checks of security fences and minor repairs as required
 Soft fall areas in playgrounds/ovals to be maintained at a safe depth
 Repainting of signs/blackboards
 Minor landscape maintenance
 Replacing tap washers
 Replacing signs
 Repair of insect screens
 Minor repairs to furniture and equipment
 Minor wall, ceiling and door repairs

5. Location of maintenance, e.g. can it be done off-site or away from heavily-trafficked areas?
Maintaining, repairing, and replacing if necessary devices, equipment, machinery, building
infrastructure, and supporting utilities in industrial, business, governmental, and residential
installations
If we have that equipment to does the maintenance on the work place. So we can fix it there
otherwise we have to take all the machines to the work shop or factory.

6. Expected duration of maintenance works.

You have to make sure that the right people are in the right places at the right times to do the work
of the organization. But it will take 3 to 5 days to do the whole maintenance of work place like, check
it everything.
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7. Timing of scheduled maintenance, e.g. slow periods such as during the day for a nightclub, or
during the night in high frequency areas.
It's important to consider all the areas and equipment in a commercial kitchen that need to be
cleaned, and to make a plan about who will clean them, when they'll be cleaned and how they'll be
cleaned.
Use this template to plan the weekly cleaning schedule for your kitchen. Print it out and put it on the
wall or keep it in your Food Safety Plan documents.
Don't forget to keep completed schedules as a record for Health Inspectors. And also don't forget to
include all those hard-to-reach areas such as behind refrigerators and other equipment!

8. Likely disruption to operations – what are the disruptions and what are the expected impacts?
When the compressor is running too long on your make time, so it’s make a big noise in the kitchen.
Also it has a peak time in the kitchen as well. You call the maintenance worker to fix it in during the
non-peak hours’ time, but he is come to fix it during the peak hours. And it makes really hard job for
you. Because you need to do work so quick and hard. Also you have to be focus on your customer
service, product and quality. If the customer ask you what sort of noise in the kitchen or why the
service is delayed, so you need to let them know so politely about that happened.

9. WHS issues
 The number and location of workers affected by the issue;
 Any relevant accepted industry practice, if that practice is consistent with the WHS Act and
the WHS Regulations;
 The requirements for the management of risks (WHS Act s17);
 What (if any) temporary measures are required;
 What (if any) further information is required;
 A method and timeline for resolution of the issue;
 Whether any other persons may reasonably be required to assist the early resolution of the
issue.

10. Legal and regulatory requirements which apply for the physical assets during the course of the
financial year (for example for vehicles carrying passengers, electrical equipment or as relevant to
the specific assets).

Inspection and maintenance

Building owners’ obligations to properly maintain building services and provide certification for
inspections varies according to the type and use of the building, the state or territory where the
building is located and the type of building service in question. In general, all buildings must comply
with the relevant building regulations at the time of construction, and maintenance of a building is
the responsibility of the building owner. Landlords must ensure that rented or leased premises are
maintained in good repair, whether the building is used for residential or non-residential commercial
purposes.
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Lifts
Applicable requirements in relation to the minimum and mandatory compliance standards for lifts
are documented in work health and safety legislation, disability discrimination legislation, state
environmental planning legislation, national construction codes, the Building Code of Australia (BCA)
and Australian and New Zealand Standards.
Air conditioning
In general, landlords have a duty to ensure that appliances and facilities such as air-conditioners
(and sinks, baths, etc) are in proper working order.
Automated fire detection and suppression systems
 The BCA requires building owners to install fire safety systems in all buildings, including
existing buildings. These include the installation of smoke alarms. In New South Wales,
building certifiers will generally require a smoke detector compliance certificate (provided
by the electrician who installed the detectors) before issuing an occupation certificate.
 In certain circumstances, sprinklers or other fire suppression systems are required in shared
accommodation buildings. In NSW, under environmental planning and assessment
regulations, automatic fire sprinklers must be installed in residential aged care facilities.
 Standards applicable to buildings vary depending on their classification under the BCA.
 Fire-fighting equipment and fire suppression systems must be provided and maintained in
accordance with any occupancy permit or determination issued by a building surveyor. A
building notice or building order issued by a municipal building surveyor may also require
maintenance to be undertaken.
 In some states, the chief fire officer of the fire brigade may also audit buildings to ensure
certain fire safety requirements are met..
Building RCD testing
In most states and territories, under work health and safety legislation, a person with management
of a workplace must make sure that RCDs used at work are tested regularly by a competent person
to ensure they are working effectively.
A record of testing (other than push button testing) must be kept until the device is next tested or
disposed of.

Whole building' emergency evacuation testing

In most states and territories, under work health and safety legislation, a person conducting a
business or undertaking at a workplace must ensure an emergency plan is prepared and that it
provides for evacuation procedures and the testing of those procedures. It is advisable to keep
records of the testing, to demonstrate compliance with this requirement.

11. Summary of cost impacts for human resources (for examples where maintenance would, e.g.
require penalty rates for maintenance staff) or the costs where contractors are engaged for
specific maintenance requirements
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Maintenance contracts are generally the most economical method for servicing or maintaining
highly technical, scientific or complex asset/equipment because of the nature of the
asset/equipment and the need to keep its downtime to a minimum. Complex and expensive
asset/equipment is normally best maintained or serviced by the original equipment manufacturer
(OEM) or its authorized service organization or the third parties interested in investing in
infrastructure. Estimation of costs for maintenance contracts is a complex process and is important
for both the owners and the service providers. Service providers need to know the estimated cost to
avoid making loss. The owners/ users need to know it to decide contract price so that they are not
paying too much compared to the cost of doing that in-house.

12. Costs of scheduled maintenance in terms of parts, required equipment to perform the
maintenance and consumables

 Physical asset life cycle costs can be considerable and are often not transparent to budget
managers. Hidden operational costs relating to physical assets cause significant problems for
budget forecasting and managing cash flow.
 When new capital assets are purchased it is critical that asset life cycle costs are identified,
so they can be challenged, compared to alternative purchases and included in future budget
forecasts.
 To meet the 21st century challenges of reducing and controlling operating costs, it is
essential that all businesses have embedded processes to control and monitor their physical
asset life cycle costs.
 Once transparent life cycle costs are in place savings can be made year on year. Future
changes can then be made that are business resilient, save money and aligned to long-term
business aims.

13. Provisions for monitoring of financial performance of the assets over the budget period.
It is very important to monitor a wide range of “performance indicators” in your business, in order to
ensure that appropriate and timely decisions and plans can be made. Given that sales, profit margins
and cash flow are the lifeblood of any business, owners should place particular emphasis on
receiving regular reports on these areas of the business. Knowing the financial position becomes
even more important as the business grows, especially if your plan is to grow the business
substantially. Lack of a precise and timely knowledge of the current financial position can lead to
business failure and have other consequences for the directors/owners.

FINANCIAL STATEMENTS

the minimum financial information for any business should be periodic financial statements
consisting of at least a Balance Sheet and Profit and Loss Statement. Businesses that provide credit
to customers also need to control their debtors through monthly aged debtor’s trial balances. Those
who have a significant investment in stock should control that through perpetual inventory records.
Regular debtor and inventory reports will help prevent too much capital being tied up in these areas
and allows for prompt follow up action. For example changing inventory ordering patterns and
allowing immediate follow up on debtors to prevent bad debts. One disadvantage of financial
statements is that they show the results of the business after the event and as such they are a lag
indicator. If prepared solely on an annual basis (and often this happens well after the end of the
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year) there is a considerable lag. More frequent reporting periods are needed for more important
data as well as use made of other financial and non-financial indicators.
Examples are number of enquiries, number of customers per day, average sales value, number of
quoted jobs lost, and customer satisfaction and so on.

14. Occurrences based on the details outlined in the questions above which would inform to
review or audit the performance or viability of the assets.

Frequency and method of inspections, and data to be collected, should always be related to the
service being provided by the particular asset. The aim should always be to ensure data is used to
determine need and timing of some preventative or remedial action to maintain the desired level of
service. For this purpose team of managers can select an asset manager who can review the assets
performance.

http://ledger-paper.org/11-apartment-building-maintenance-checklist/

https://www.pcworld.com/article/188123/pc_maintanence.html

https://www.doityourself.com/stry/gardenjournal1

https://higherlogicdownload.s3.amazonaws.com/IPWEA/1605183f-a91c-4680-b953-
cde30dd2c09a/UploadedImages/Bookshop/PN%20Preamble_lp_v2.pdf