Developing Physical Asset Register for Acumen Kitchen and Restaurant

ASSESSMENT 1- PROJECT
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Part A – Asset Register
1. Developing a Physical Asset Register for the Acumen kitchen and restaurant
The asset for Acumen kitchen includes things owned by the business that cannot be readily
converted into cash. In the asset management system to monitor and maintaining assets of the
business, a register is developed (Davis, 2016). The asset register records all crucial information
related to an asset of the business. The financial staffs and operational staffs need to keep track
of the physical assets. The account will keep details of the net value of each asset by means of
allocating an annual rate of depreciation. Any sales or purchase related to an asset need to be
included in the register (Jurczenko and Maillet, 2012, pp 113-163). Annual checks will ensure,
the existence of the assets and tallying with information represented. The physical asset register
for Acumen Kitchen is developed as below for its building, computer systems, equipment
fixtures, fittings and furniture in the kitchen or at the restaurant.
2. Asset Register
Organization – Acumen Kitchen Month – January Year 2019
Asset
Serial
Number
Description
of assets
Current
Location Purchase
date
Cost Depreciation
amount to
date $
Closing
Written
down
Values
Date last
verified
Building
Computer
Systems
Equipment
fixtures
Fittings
and
Furniture
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Part B – Maintenance, repair, and replacement
1. Developing a Maintenance Register
An equipment repair and maintenance are life for every restaurant and kitchen operator.
Especially in case a kitchen or equipment gets older, keeping a repair history is impossible in
absence of a repair and maintenance register (Soro, Nourelfath and Aït-Kadi, 2010, pp 65-69).
The register allows keeping track of service calls so as to hold service companies accountable for
their works. A register helps track warranties and purchase information that includes models and
serial numbers. It allows listing of vendors along with alternate vendors, especially when service
is needed. It allows recording of service problems, cost of service and date for service calls. The
register would allow including maintenance requirements for assets ensuring no disruption in
operations or in environmental sustainability takes place (Hastings, 2010). While some assets,
there are lease clauses and for some, there are service contract agreements. For other assets, user
manuals need to consulted or manufacturer's recommendations along with consideration of the
frequency of use to Acumen.
Asset Maintenance Logsheet
Name of the piece of asset: Building
Label:
Serial number:
Manufacturer:
Manufacturer's contact person + contact details:
Date of purchase:
Date put into service:
The person responsible for an asset:
Initials of the person authorized to use asset:
Location of asset: Australia
Physical condition: Old
The service provider (for maintenance and calibration): Jackson Property Pty Ltd
Service provider contact person + contact details: [phone]
Frequency of maintenance: Yearly
Date: Description of Maintenance Date of Validation Next Remarks:
3

maintenance: performed by: validation
before put
into service:
performed
by:
maintenance
planned on
(date):
10
Jan
2019
Crack
maintenance
and repair
Mr. Samui,
Jackson
Property Pty
Ltd 15 Jan 2019
Mr. Carson,
Jackson
Property Pty
Ltd
10 September
2019 All ok
Name of the piece of asset: Computer systems
Label: 220 W; 230 VC; 50Hz
Serial number: LG-DAC-556
Manufacturer: LG
Manufacturer's contact person + contact
details:
Mr. Sampson, LG Electronics Brisbane + +61 524
9874
Date of purchase: 20 August 2016
Date put into service: 21 August 2016
Person responsible for asset: Mr. Chaplin (IT Department )
Initials of person authorized to use asset:
Location of equipment: Restaurant
Physical condition: Excellent
Service provider (for maintenance and
calibration): LG Electronics
Service provider contact person + contact
details:
Mr. Michael, LG Electronics Brisbane + +61 685
9884
Frequency of maintenance: 6 monthly
Date
:
Description
of
maintenan
ce:
Maintenan
ce
performed
by:
Date of
validati
on
before
put into
service:
Validatio
n
perform
ed by:
Next maintenance planned on
(date):
Remarks:
10
Jan
2019
Crack
maintenan
ce and
repair
Mr.
Samui,
Jackson
Property
Pty Ltd
15 Jan
2019
Mr.
Carson,
Jackson
Property
Pty Ltd 10 September 2019 All ok
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