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Engineering asset management [12] is a more recent term that is used to describe the management of complex physical assets, a specific engineering practice that is concerned with optimizing assets, in the context of the organizations goals and objectives, through using multidiscipline engineering methodologies, and Terotechnology (which ...
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.
ISO 55000 is an international standard covering management of assets of any kind. Before it, a Publicly Available Specification (PAS 55) was published by the British Standards Institution in 2004 for physical assets. The ISO 55000 series of Asset Management standards [1] [2] was launched in January 2014.
Enterprise asset management (EAM) involves the management of the maintenance of physical assets of an organization throughout each asset's lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information. [ 1 ]
Where there is no problem of confusion, the term asset management is more widely used, as in the professional societies: the Asset Management Council in Australia and the Institute of Asset Management in the UK. In this context, infrastructure is a wide term denoting road and rail, water, power, etc. assets.
High cost assets (and asset systems) will likely have more detail, as will critical assets and asset systems. Maintenance expenditure can account for many times the initial cost of the asset. Although an asset may be constructed with a design life of 30 years, in reality it will possibly perform well beyond this design life.
A concept related to global assets under management in the investment industry is global assets under advisement (AUA). This measures the total market value of the assets that are advised by a financial institution, which is often an investment consultant or other intermediary. In general, the advisory firm does not have discretion to manage ...
As long as the credit risk of the underlying assets is transferred to another institution, the originating bank removes the value of the underlying assets from its balance sheet and receives cash in return as the asset-backed securities are sold, a transaction which can improve its credit rating and reduce the amount of capital that it needs ...