9. R&R: Property Management

Welcome to begin this module read the learning objectives, then click the red button under Get Started located on the top  right hand side of this page.

Learning Objectives

  1. Identify the 3 criteria equipment must meet to be considered capital equipment
  2. Define a fabrication
  3. State two types of assets tracked recorded in Sunflower Assets
  4. Identify the three phases of the property management lifecycle
  5. State two reasons it is critical to use a proper Expenditure Type when purchasing equipment
  6. State the purpose of physical inventory

Self Assessment

This step is optional. If you would like to assess your knowledge of the topics that are discussed in this module before you start learning, answer the following questions. Use the results to guide your learning.

Which criteria must equipment meet to be considered capital equipment? Check all that apply.
multiple
Answer: 
have a useful life of more than 5 years
incorrect
See module 9.4
Answer: 
be attached to a Stanford owned building
incorrect
See module 9.4
Answer: 
be an individual, stand-alone, moveable, tangible item
correct
Correct
Answer: 
have a useful life of more than one year
correct
Correct
Answer: 
Acquisition cost $5,000 or greater
correct
Correct
Which criteria must an item meet to be considered a fabrication? Check all that apply.
multiple
Answer: 
the cumulative cost of the components must be more than $1000
incorrect
See module 9.5
Answer: 
it has a useful life of more than 2 years
incorrect
See module 9.5
Answer: 
it cannot be purchased off the shelf
correct
Correct
Answer: 
the components must cost more than $5000
correct
Correct
Stanford's physical inventory cycle takes 2 years to complete.
one
Answer: 
True
correct
Correct
Answer: 
False
incorrect
See module 9.5
Excess is one of the phases of the property management lifecycle.
one
Answer: 
True
correct
Correct
Answer: 
False
incorrect
See module 9.2
Stanford’s equipment inventories and property management systems are under scrutiny by the Office of Naval Research.
one
Answer: 
True
correct
Correct
Answer: 
False
incorrect
See module 9.4

Get Started:

9.1 Overview

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