Abstract: A business asset management system, method, and computer-program product is provided that operates in real time to allow all aspects of asset management to be performed. The present system allows users to obtain automated approval for an asset management process when they initiate the process. The method and system also ensures that assets are written off the books as soon as they have been disposed of. Further, a listing of surplus assets that can be utilized by other employees in the company is created and made available to the employees, and employees are able to transfer assets to other employees, and update assets as appropriate. In a preferred embodiment, the present invention is embodied in a Graphical User Interface (GUI).

Abstract: The invention is a method and apparatus that can be implemented as an automated process by software for classifying assets, preferably at the time of acquisition, as capital assets or expensed assets. Assets are classified as capital or expensed assets by determining the average cost of all models of a given machine type as of a predetermined date, preferably, the date that the machine type is released for commercial sale. That average cost is then compared to a predetermined minimum value and all assets of a machine type the average value of which is greater than or equal to the minimum cap value are classified as capital assets while all assets of a machine type the average value of which is below the minimum cap value are classified as expensed assets.