This template will help you capture your policies for fixed assets, handling gains/losses from the sale of assets, and related procedures.
Expenses above [USD amount here] must be capitalized.
The [President's, CEO's, or Controller's] approval is needed for any capital expenditure above [USD amount here] and all proposed capital expenditures not listed in the annual budget.
All proposed asset additions need management approval.
At least once a year, the accounting team will compare the records of fixed assets, adjusting their recorded locations as needed and identifying which assets need to be disposed of.
A detailed record shall be kept of each fixed asset, which will make it easier to locate, cost, and abide by the warranty provisions of each asset.
The [job title here's] approval is required for all asset transfers and disposal.
The cost of replacing fixed assets that are lost or stolen will be charged to the department responsible for those assets.
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