خلاصة:
The capital asset management is proposed to be a key to solve the problems and manage the
affairs. The organizations which focus on new products, expand their services, and create
efficiently their supply chain now face with emerging markets and excess expensive
capacities. These efforts aim to reduce the costs of capital assets which are considered as
one of the expensive costs. However, this study aimed to analyze the life cycle management
pattern of capital assets in petrochemical industry to investigate the costly factors in
production, operation, sale, waste, and etc. and proper management and efficiency factors to
increase efficiency and introduce asset control tools such as RFID.The findings showed that
the mismanagement of useful lifecycle of assets was one of the factors which increased the
cost. Also, there was significant relationship between management of useful lifecycle of
assets and planning of management.
ملخص الجهاز:
However, this study aimed to analyze the life cycle management pattern of capital assets in petrochemical industry to investigate the costly factors in production, operation, sale, waste, and etc.
Keyword: life cycle management, capital assets,petrochemical industry * Corresponding author Rasool Bayat Peer review under responsibility of UCT Journal of Management and Accounting Studies UCT Journal of Management and Accounting Studies Vol 5 Issue 2, June 2017 One of the main goals of accounting is provision of information for decision-making and planning.
Considering this, the final outcome of asset management is increasing efficiency, reducing maintenance and capital costs, and improving the sensitivity of market.
The research hypotheses are as follows: First sub-hypothesis: There is significant relationship between asset's useful life cycle management and management decision-making.
Second sub-hypothesis: There is significant relationship between asset's useful life cycle management and management planning.
Third sub-hypothesis: The lack of proper management of asset's useful life cycle is one of the factors which increases the cost.