Fixed Asset Management of The Daily Star

Abstract

The management of fixed assets is a crucial element in ensuring the efficiency, longevity, and financial health of any organization. This study investigates the fixed asset management practices at The Daily Star, a leading newspaper in Bangladesh, with the aim of understanding the current systems in place, their effectiveness, and areas for improvement. The purpose of this report is to provide insights into the strategies used by The Daily Star to manage its fixed assets, including acquisition, maintenance, depreciation, and disposal.Through detailed analysis, this report highlights key factors that influence the effectiveness of fixed asset management, such as the accuracy of asset tracking, compliance with financial regulations, and the implementation of modern technologies for asset monitoring. It also examines the challenges faced by the organization in maintaining a comprehensive asset management system, such as the integration of digital tools and the training of employees to ensure proper asset handling. The findings suggest that while The Daily Star has implemented several effective practices in asset management, there is potential for further optimization, particularly in the areas of automation, data integration, and streamlining asset disposal processes. The report emphasizes the need for enhanced asset tracking technologies, a more robust system for asset valuation, and increased staff training to improve the overall management of fixed assets. By addressing these areas, The Daily Star can optimize its fixed asset management practices, leading to cost savings, more accurate financial reporting, and improved operational efficiency. Furthermore, strengthening these practices will contribute to better resource allocation and long- term sustainability, ultimately supporting the company’s growth and competitiveness in the media industry.