ASSET DISPOSAL

Asset disposal is the removal of  long-term assets from the company’s records. It is a prominent concept because capital assets are essential to successful business operations. When assets are in a nonproductive and extinct stage and no longer able to fulfill its primary objective, then it needs to be disposed of. It is the final stage of the asset life cycle. The asset disposal is the result of several events such as:

  1. When an asset is fully depreciated, it must be disposed of.
  2. An asset is sold because it is no longer beneficiary or needed.
  3. When an asset is about to reach its expiry period, it must be disposed of.



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