Standard Capital Asset Life Cycle
An asset typically has 5 life cycle areas. The acquisition can be from purchases to gifts. Capital Assets Management office will tag any moveable equipment and software, and those items are inventoried at least biannually, if not annually. The movement of an asset can happen at any point of the life cycle and includes transferring equipment and software to another department, disposal, and surplus. The final stage of an asset life cycle includes reports, which includes a wide variety of information regarding an asset or group of assets.