Views:

Question What is the process to request asset number?
Answer    Requisition of asset number is under Financial Accounting Services purview. As such, kindly contact En. Amerul Hazriq B. Ibrahim at hazriq.ibrahim@utp.edu.my or his direct line 05 – 368 8145.

Question What are the criteria of asset?
Answer    In general, an equipment is considered as asset (fixed asset) when it fulfils the following criteria 
    i. Of a permanent nature intended for long term possession or use (not a consumable or replacement item),
    ii. Cost RM 1,000.00 or above 
    "have economic life or useful life of more than one (1) year
"

Question Who should tag the asset?
Answer    At the moment, Requestor/User/Custodian is responsible to ensure their asset is properly tagged with asset number.

Question When asset should be tag?
Answer    Newly purchased asset should be visibly & clearly tagged within 1 month after acceptance

Question What is the process of asset transfer?
Answer    Requestor need to submit Asset Transfer Form to Procurement Office. Procurement personnel will then arrange a site-visit with Requestor for verification purpose.

Question What is the process of asset disposal?
Answer    Requestor need to submit Asset Disposal Form to Procurement Office. It is recommended that the form is to be attached with supporting document such as: 
    i. Notification from vendor on their incapability to repair the equipment (asset) 
    ii. Notification from vendor on cost of repair of the equipment (asset
    iii. Police or UTP Security Services Report on stolen/lost equipment (asset)

Question How frequent is the submission of asset disposal?
Answer    Asset disposal will be exercised at least 4 times yearly (quarterly). However, due to certain factors, it might be exercised more than that.

Question How long is the process of asset disposal from end-to-end?
Answer    Depending on certain factors, normally it could take between two (2) to six (6) months.
 

Keywords: Asset Disposal, Procurement