Question 6

Finance and Accounting has determined from the contract that (1) the display unit including all its components belongs to HRE and (2) the display unit comprises a Capital Asset. Therefore, they request from you a package of information including copies of all invoices and receiving documentation so that they can assign it an Asset Code and update their Assets Register.

1. What impact will this have on your project?
2. Should you amend your project WBC coding for the Display Unit to F&A's Asset Code?
3. Should the project maintain its own Assets Register?
4. What are the uses of an Assets Register?