ASTM E2604-15

Standard Practice for Data Characteristics of Equipment Asset Record

SIGNIFICANCE AND USE
5.1 Essential data elements shall be included in the asset record to provide efficient and effective management of property.  
5.2 Optional data elements are part of the record depending on the entity’s need or owner's requirements, or both. Optional data elements are not limited to those cited in this practice.  
5.3 Use of this practice will result in greater efficiency in the management of assets including its monitoring, performance of physical inventories, self-assessments, disposition, etc.
SCOPE
1.1 This practice presents both essential and optional data elements contained within an asset record.  
1.2 This practice is not intended to be used for the creation of material asset records.  
1.3 Essential data elements are requisite and shall be included in an asset record to ensure efficient, effective management and control of assets and to provide information regarding the status to management, users, or customers.  
1.4 Optional data elements are applicable to asset records depending upon the needs of the entity. Not all optional data elements are required or applicable to all entities.  
1.5 The division of data elements into essential and optional data elements allows this practice to be applied across a wide spectrum of applications.  
1.6 This standard does not purport to address any contractual requirements imposed upon the entity. It is the responsibility of the user of this standard to ensure that all contractual requirements are met.  
1.7 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety and health practices and determine the applicability of regulatory limitations prior to use.

General Information

• Status: Historical
• Publication Date: 31-Dec-2014
• ICS: 35.240.60 - IT applications in transport
• Technical Committee: E53 - Asset Management
• Drafting Committee: E53.02 - Data Management

Standards Content (Sample)

NOTICE: This standard has either been superseded and replaced by a new version or withdrawn.
Contact ASTM International (www.astm.org) for the latest information
Designation: E2604 − 15
Standard Practice for
1
Data Characteristics of Equipment Asset Record
This standard is issued under the fixed designation E2604; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
INTRODUCTION
The successful life-cycle management of Equipment “Assets” (hereby known as asset within this
practice) requires several key tools, one of which is the individual asset record. Using the essential
data elements will provide a basis for the establishment of this record. Optional data elements may be
used to accomplish various levels of compliance that may be required by the owners of the asset.
1. Scope 2. Referenced Documents
2
1.1 This practice presents both essential and optional data 2.1 ASTM Standards:
elements contained within an asset record. C1154 Terminology for Non-Asbestos Fiber-Reinforced Ce-
ment Products
1.2 This practice is not intended to be used for the creation
E2135 Terminology for Property and Asset Management
of material asset records.
E2306 Practice for Disposal of Personal Property
1.3 Essential data elements are requisite and shall be in-
E2379 Practice for Property Management for Career Devel-
cluded in an asset record to ensure efficient, effective manage- 3
opment and Training (Withdrawn 2013)
ment and control of assets and to provide information regard-
ing the status to management, users, or customers. 3. Terminology
1.4 Optional data elements are applicable to asset records 3.1 Definitions—for general terminology related to property
depending upon the needs of the entity. Not all optional data management systems, see Terminology E2135.
elements are required or applicable to all entities. 3.1.1 accountable entity, n—entity having the equipment
and obliged to accept responsibility.
1.5 The division of data elements into essential and optional
3.1.2 acquisition cost, n—purchase price paid for property
data elements allows this practice to be applied across a wide
and any appropriate subsequent improvements to it and in-
spectrum of applications.
cludes cash paid or fair value received and material amounts of
1.6 This standard does not purport to address any contrac-
preparation cost such as inspection, test, and installation.
tual requirements imposed upon the entity. It is the responsi-
E2379
bility of the user of this standard to ensure that all contractual
3.1.3 data element, n—individual fact collected to populate
requirements are met.
information for the equipment record.
1.7 This standard does not purport to address all of the
3.1.4 date manufactured, n—year item was built by manu-
safety concerns, if any, associated with its use. It is the
facturer that is usually displayed on the back of the item.
responsibility of the user of this standard to establish appro-
priate safety and health practices and determine the applica-
3.1.5 date placed in service, n—date the equipment is put
bility of regulatory limitations prior to use.
into operation.
1 2
This practice is under the jurisdiction of ASTM Committee E53 on Asset For referenced ASTM standards, visit the ASTM website, www.astm.org, or
Management and is the direct responsibility of Subcommittee E53.02 on Data contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM
Management. Standards volume information, refer to the standard’s Document Summary page on
Current edition approved Jan. 1, 2015. Published February 2015. Originally the ASTM website.
3
approved in 2009. Last previous edition approved in 2009 as E2604–09. DOI: The last approved version of this historical standard is referenced on
10.1520/E2604-15. www.astm.org.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

---------------------- Page: 1 ----------------------
E2604 − 15
3.1.6 description, n—a statement or an account describing 4. Summary of Practice
something.
4.1 The asset record provides a compilation of both essen-
tial and optional data elements.
3.1.7 disposal, n—processes involved in the removal of
personal property from the property accounting system after
4.2 This is a practice for data elements included in the
assignment for utilization, donation, sale, abandonment, or
record, not the data entered into the record. For example, if
destruction. E2306
information regarding an essential data element is unknown,
the entry will be “unknown” or similar.
3.1.8 disposal method, n—a process utilized to transfer or
dispose items.
4.3 The asset data elements for individual record require-
ments are based upon the legal obligation with the owner of the
3.1.9
...

This document is not an ASTM standard and is intended only to provide the user of an ASTM standard an indication of what changes have been made to the previous version. Because
it may not be technically possible to adequately depict all changes accurately, ASTM recommends that users consult prior editions as appropriate. In all cases only the current version
of the standard as published by ASTM is to be considered the official document.
Designation: E2604 − 09 E2604 − 15
Standard Practice for
1
Data Characteristics of Equipment RecordsAsset Record
This standard is issued under the fixed designation E2604; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
INTRODUCTION
The successful life-cycle management of property Equipment “Assets” (hereby known as asset
within this practice) requires several key tools, one of which is the individual equipmentasset record.
Using the essential data elements will provide a basis for the establishment of this record. Optional
data elements may be used to accomplish various levels of compliance that may be required by the
owners of the equipment.asset.
1. Scope
1.1 This practice presents both essential and optional data elements contained within an asset record.
1.2 This practice is not intended to be used for the creation of material asset records.
1.2 This practice presents both essential and optional data elements contained within an equipment record.
1.3 Essential data elements are requisite and shall be included in a equipmentan asset record to ensure efficient, effective
management and control of equipmentassets and to provide information regarding the status to management, users, or customers.
1.4 Optional data elements are applicable to equipmentasset records depending upon the needs of the entity. Not all optional
data elements are required or applicable to all entities.
1.5 The division of data elements into essential and optional data elements allows this practice to be applied across a wide
spectrum of applications.
1.6 This standard does not purport to address any contractual requirements imposed upon the entity. It is the responsibility of
the user of this standard to ensure that all contractual requirements are met.
1.7 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility
of the user of this standard to establish appropriate safety and health practices and determine the applicability of regulatory
limitations prior to use.
2. Referenced Documents
2
2.1 ASTM Standards:
C1154 Terminology for Non-Asbestos Fiber-Reinforced Cement Products
E2135 Terminology for Property and Asset Management
E2306 Practice for Disposal of Personal Property
3
E2379 Practice for Property Management for Career Development and Training (Withdrawn 2013)
3. Terminology
3.1 Definitions—for general terminology related to property management systems, see Terminology E2135.
3.1.1 accountable entity, n—entity having the equipment and obliged to accept responsibility.
3.1.2 acquisition cost, n—purchase price paid for property and any appropriate subsequent improvements to it and includes cash
paid or fair value received and material amounts of preparation cost such as inspection, test, and installation. E2379
1
This practice is under the jurisdiction of ASTM Committee E53 on Asset Management and is the direct responsibility of Subcommittee E53.02 on Data Management.
Current edition approved April 15, 2009Jan. 1, 2015. Published May 2009February 2015. Originally approved in 2009. Last previous edition approved in 2009 as
E2604–09. DOI: 10.1520/E2604-09.10.1520/E2604-15.
2
For referenced ASTM standards, visit the ASTM website, www.astm.org, or contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM Standards
volume information, refer to the standard’s Document Summary page on the ASTM website.
3
The last approved version of this historical standard is referenced on www.astm.org.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

---------------------- Page: 1 ----------------------
E2604 − 15
3.1.3 data element, n—individual fact collected to populate information for the equipment record.
3.1.4 date manufactured, n—year item was built by manufacturer that is usually displayed on the back of the item.
3.1.5 date placed in service, n—date the equipment is put into operation.
3.1.6 description, n—a statement or an account describing something.
3.1.7 disposal, n—processes involved in the removal of personal property from the property accounting system after assignment
for utilization, donation, sale, abandonment, or destruction. E2306
3.1.8 disposal method, n—a process utilized to transfer or
...