Introduction to Asset Management

Abstract

The aim of this chapter is to introduce to the main concepts of Asset Management. Outcomes After reading this chapter you will know about:The purpose of this book;The historical background to asset management;The ISO 55000 series of standards for asset management;Definitions of assets, liabilities, and related terms with reference to ISO 55000 and to accounting applications;The broad types of assets which organizations have;The types of industry to which asset management is particularly important;The aim of asset management within an organization;An outline of the asset management life cycle;The basic questions to be addressed by asset management;The benefits of good asset management;The dangers of the asset death spiral.