AssetAsset Disposal
From the AssetPad glossary.
The process of selling, discarding, or decommissioning a company's fixed assets, typically at the end of their useful life or utility.
Asset disposal can occur when an asset is fully depreciated and can no longer provide value, or when the asset becomes obsolete due to technological advancements. This process helps a company manage its resources effectively, freeing up space, reducing maintenance costs, and ensuring proper accounting and compliance with disposal regulations.