Faculty of business department of accounting an assessment of fixed asset managementin the

4.2. Conclusions
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A plant asset is a bundle of future services the asset will provide. The cost of acquiring such an 
asset is a measure of the amount of future services that at a time of acquisition; cost is also an 
objective measurement of the exchange value of an asset. As the words reflects the results on the 
Internal control system in AAU 6 kilo campus has a registration book and good controlling 
system over fixed assets , in which the registration book is complete. On the other hand there is a 
weakness on application of internal control manual on plant assets because of certain problems 
like misunderstanding of the manual of fixed assets due to lack of training and mismatching of 
the manual of the organization with the federal financial and economic development manual. The 
last problem that observed on the ICS is there was no procedure for the distribution of fixed 
assets to users.
The fixed assets managerial department is working hard in its position on gathering information 
in order to identify inventory fixed assets, counterchecking of those recorded assets from the 
registration book and updating the registry according to the current problems existed. Though, 
there is a weak side of the department on the observation of problems while counting of fixed 
assets.
AAU disposes those retired plant assets properly as per legislation and the organization also has 
a good installation for disposal of those retired assets. But scrapped or retired from use as the 
basis of written authority of the top manager is very low. This requires a special attention due to 
those problems like, disposal of fixed asset are not computerized rather it is manually processed, 
decisions are made regarding disposal of fixed assets without detail assessmentSome fixed assets 
are not installed in proper place.
As the results obtained from respondents, AAU 6 kilo campus has a repair and maintenance 
department with insufficient safeguarding to protect fixed assets from theft and fire. Those 
predicaments that expose this situation are lack of modern fire extinguisher materials, the 
warehouse and stores are not properly constructed, there is no continuous follow up and 
inspection of assets, misallocation of fixed assets.