TAILIEUCHUNG - Disposal Management

Define a process for disposing or scrapping assets to make sure that we are able to control and account for the company’s properties exactly. | PROCTER GAMBLE VIETNAM LTD. STANDARD OPERATION PROCEDURE Title ASSET DISPOSAL MANAGEMENT PROCEDURE. Document no. FA - GJ - 01- 99 Page 1 of 2 Issued date June-01-1999 Prepared by Quach Thuy Linh Concurred by Nguyen Thi Dieu Tran Vu Trong Tai Nguyen Quang Chi Purchasing Manager HR Manager RM Manager Approved by Phan Quang True GL Manager Distribution All departments rev. No DATE NATURE OF REVISION REVISION DUE 00 New I- Purpose Define a process for disposing or scrapping assets to make sure that we are able to control and account for the company s properties exactly. II- Roles Responsibilities 1. Asset originator prepares Fixed assets disposal order FADO or non-fixed assets disposal request and get approvals from proper management. 2. Fixed Assets Accountant FA Accountant provides the asset information such as fixed assets or not fixed assets original cost net book value . .He or she will make entries to write off it in asset book when receives approved FADO form. 3. Purchasing seek scrap buyers or disposal contractors provide cost of reselling based on net book value of fixed assets. 4. Human Resources concur and recommend addresses for donation. 5. Risk management concur on physical disposal method to make sure it is safe after physically disposed process. III- Authorization level Level of approvals should be consistent with Delegation of Authority policies Expense receipt column in Authorization limits list if it is non-fixed assets . Approval of FADO should be signed by Board of Directors to comply with Vietnamese regulation. IV- Procedure 1. Identify disposed assets and prepare request form The originator will check with FA accountant by email to clarify whether asset is fixed asset or not. - If it is fixed asset the originator will fill in FADO form with assets specifications accounting status provided by FA accountant and get authorized approval. The fixed assets regarding to production line must get approvals of TSO or Operation Manager. - If it is not fixed