ISO/TC251 Asset Management Committee released a resource in August 2022 “Aligning Asset Management and Financial Reporting Approaches”. This article highlights the different definitions of the term “asset” associated with current asset management and financial accounting best practices, and outlines how organizations should be aware of, and can handle those differences using a proposed mapping table approach.
Download a copy of the resource at: ISO TC251 WG5 AAMFRA August 2022 EN.pdf