Proper disposal of IT assets is essential for any organization, and the following procedure can be adopted to achieve that: Develop a disposal policy: A well-defined policy is necessary for IT asset disposal. It should cover aspects like asset types,

When a company incurs a loss on the disposal of an asset, it is reported in the income statement of the financial statements. The loss is recognized as an expense and is included in the net income for the period

To record the disposal of an asset, companies need to update their accounting records to reflect the removal of the asset from their balance sheet. The specific steps required to record the disposal of an asset may differ depending on