The Importance of Asset Management Jobs for Companies

financialtreat – will explain about The Importance of Asset Management Jobs for Companies which you will get in the following article. let’s look at this article carefully!

Asset management jobs are someone who has the task of making work plans and budgets, monitoring safety stock and project implementation, conducting property assessments, making reports on work programs and work agendas, and providing solutions to overcome problems around work activities.

The Importance of Asset Management Jobs for Companies That Not Everyone Knows!

Duties and Responsibilities of Asset Management

Some of the duties and responsibilities of being an Asset Management are as follows:

  • Make a work plan and monthly or annual work budget related to activities carried out in the Asset Management department.
  • Asset Management is also tasked with monitoring stock safety and conducting administrative activities in asset warehouses.
  • They will also monitor the work plan and work budget that has been made.
  • Monitoring the implementation of special projects and company events related to the Asset Management Department.
  • Create and compile systems and procedures in accordance with the latest company conditions.
  • Assessing every property owned by the company.
  • Make a report on the work program and work agenda which will later be submitted to the General Manager Manager Engineering & Service.
  • Providing solutions to overcome problems around work activities in accordance with the scope of their responsibilities.
  • Making decisions in accordance with the function and scope of work.
  • Managing the course of the work process in the Asset Management Department section.
  • Develop the potential and career path of Supervisors and Staff in the Asset Management Department.
  • Rebuke undisciplined subordinates in work.
  • Managing procurement documents, new assets, asset mutations and disposals and improvements.
  • Conduct periodic inspections of the list of assets in the field.
  • Coordinate with related teams in processes that do require approval and recommendations from the relevant team.
  • Conduct periodic inspections of the list of field assets.
  • Update asset data.

Requirements that you must meet to be able to become an Asset Management

  • Have a minimum educational history of S1 majoring in Accounting, management, engineering and finance
  • Can use Microsoft Officer at least Microsoft Word and Excel to manage company asset documents
  • Have the ability to present and write reports
  • Have the ability in the field of administration
  • Have good communication and interpersonal skills
  • Have work experience as an asset management of at least 1 year to become an Asset Management
  • Have a maximum age of 35 years
  • Can work under pressure and predetermined deadlines
  • Have an honest and responsible attitude towards work
  • Be meticulous in working so that it will reduce the error rate when inputting data into the system
  • Can work in the field and back office
  • Being able to use foreign languages such as English and Mandarin will be prioritized
  • Can work in teams or individuals
  • Have a private vehicle and have at least a C-sim
  • Have experience in outsourcing
  • Have a leadership spirit
  • Resolute and orderly
  • Before knowing about the purpose of asset management and its importance for the company, let’s recall the definition of an asset.

Quoting from several, assets or assets are the source of an economy that is expected to provide business benefits in the future. Furthermore, assets are all rights that can be used in the operation of the enterprise, such as buildings or buildings

Asset Management Objectives

There are several objectives of managing the company’s assets, including:

  • Ensuring the ownership status of an asset;
  • Conducting an inventory of the wealth and service life of the assets owned;
  • Keeping the value of assets high and having a long life span;
  • Ensuring an asset can generate maximum profit;
  • Achieving optimal use and utilization of assets;
  • Minimize costs over the life of an asset;
  • As a necessity for asset security; and
  • As a reference in preparing the balance sheet in the accounting report.

Asset Management Cycle

In managing the assets of a company, there are cycles that must be carried out sequentially so that the final management process can function optimally. The following are the stages of the cycle in order.

1. Asset Needs Planning

This is the first and most strategic step in the asset management process. Asset needs planning must be able to provide information about the level of company needs for fixed assets to be managed, both long-term and short-term management. With this planning, it is expected to increase profits and reduce the risk of company losses in the future.

2. Asset Procurement

The next stage in the cycle is the procurement of assets, which is a series of activities to obtain assets carried out both by internal parties of the company and by external parties appointed as providers of the assets concerned.

3. Asset Inventory

At this stage, the company collects data and records tangible and intangible assets by providing an asset code and writing information about an asset, such as the location of the asset, asset area, asset acquisition price, asset designation, proof of asset ownership, identity of the person in charge, and asset specifications.

Furthermore, the results of the data are reported and documented at a certain time to obtain data on all assets owned.

4. Legal Asset Audit

Also known as legal due diligence, this is an audit or examination stage regarding the ownership status of assets, procurement systems and procedures, transfer systems and flows, as well as looking for legal problems related to assets and finding appropriate solutions.

5. Operation and Maintenance of Assets

The company uses all assets in business processes in accordance with their respective functions. Then, the company also carries out asset maintenance so that it can function optimally.

6. Asset Valuation

The company determines the value of its assets to clearly know the value of the wealth owned, which is transferred or written off.

7. Write-off and Transfer of Assets

If an asset cannot be utilized anymore, the company will decide to write off the asset by transferring it or destroying it. Transfer of assets is the transfer of rights and/or responsibilities and authorities of assets in other divisions. Meanwhile, asset destruction is the destruction of assets to reduce the assets owned.

8. Asset Updates

In some assets that are assessed that cannot work optimally, they can still be renewed so that they can still be utilized by the company. Therefore, the company carries out the process of updating or rejuvenating assets so that they can return to work optimally.

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The Importance of Asset Management

By conducting asset management and its cycle, the company can maintain the value of its assets to remain stable and can increase profits, both in terms of income and achievement of goals.

The company can also minimize the risk of loss stemming from damage or decreased asset value.  In addition, this asset management helps the company in monitoring if its assets are depreciating.

When there is a depreciation of the function or value of an asset, the relevant team must make a depreciation report on the assets listed in the financial statements to then consider the decisions to be taken.

Asset management can facilitate the preparation of a company’s budget, such as construction, purchase and maintenance of goods. From this budget, companies can also be more careful in making decisions on purchasing new assets in order to save on expenses.

Asset management is always accompanied by risk management. Because the company must consider the risks that will be faced in the future that can threaten its assets. By running asset management, companies can also manage risks that may arise in the future.

The implementation of this management also helps increase the security of the assets owned by the company, especially if there are many assets that must be managed. In addition, asset management also makes it easier for related teams to compile financial statements, which must then be attached to the reporting of corporate income tax returns at the end of the tax year.

Existing assets also affect the calculation of income tax that the company must report at the end of the tax year. For the convenience of reporting the Annual Income Tax Return of the Agency, you can use e-Filing from OnlinePajak.

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Asset management is one of the management that must be done by the company on the assets owned. This management helps the company in recording, monitoring, maintaining, and maintaining its assets.

This asset management also helps companies in preparing a budget so that there is no waste related to excessive asset purchases. To carry out this management, there are cycles that must be carried out sequentially, namely: Asset needs planning, asset procurement, asset inventory, asset valuation, asset legal audit, asset operation and maintenance, asset valuation, asset write-off and transfer, and asset renewal.

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