AN ASSESSMENT OF FIXED ASSET MANAGEMENTIN THE CASE OFADDIS ABABA UNIVERSITY, 6 KILO CAMPUS

Abstract

The study was conducted in Addis Ababa University, 6 Kilo campus, Addis Ababa, Ethiopia from February 19, 2014 to May 19 to assess the practice of fixed asset management of the organization. Descriptive type of the study method was employees through collection of data by judgmental sampling from the employers of the organization. A total of 14 employers (3 fixed asset managers, 3 store and fixed asset store units, 3 store and supply units, 3 internal audit service unit, and 2 finance officers) were involved in the study as a respondent. From the total of 14 respondents, 10(85.7%) convinced that the university is applying the basic elements of fixed asset management policies. Similarly, out of the total employers who fill the questionnaire, 10(71.4%) respondents reflected that the fixed asset management department is doing its responsibilities. Among the 14 employers, 9(73.5%) respondents indicated that the institute is disposing retired asset as per the legislation. Finally, those 9(64.2%) employers out of the total population clarified that the organization maintenance department is performing its duty. As the result indicated that the practice of fixed assets management in Addis Ababa University, 6 kilo campus is in a good condition even if there are some problems in the department of the fixed assets management. Therefore, series decision are required to observe and identify those problems and appropriate measures should be taken to reduce maintenance cost and extending the retirement time of assets in order to attain the future plan and goal of the organization