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Furniture, Fixtures, and Equipment - PowerPoint PPT Presentation


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27. Furniture, Fixtures, and Equipment. You Should Be Able To:. Identify management considerations surrounding the selection and procurement of furniture, fixtures and equipment. Outline the general procedures used when purchasing furniture, fixtures, and equipment.

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Presentation Transcript
you should be able to
You Should Be Able To:
  • Identify management considerations surrounding the selection and procurement of furniture, fixtures and equipment.
  • Outline the general procedures used when purchasing furniture, fixtures, and equipment.
you should be able to con
You Should Be Able To (con.):
  • Describe the major selection factors for furniture, fixtures, and equipment.
  • Evaluate financing options when purchasing furniture, fixtures, and equipment.
ffe as capital items
FFE as Capital Items
  • Capital items are long-life items.
  • Most capital items are depreciable assets.
  • Typically, the cost of many FFE items cannot be used as tax deductions in the year they were purchased.
  • Value is depreciated over a period of years.
management considerations
Management Considerations
  • Effect future plans might have on the need for FFE
  • Obsolescence
  • Capitalizing an operating expense
general procedures in ffe purchasing
General Procedures in FFE Purchasing
  • Is replacement necessary?
  • Visiting trade shows
  • Financing and the need to obtain competitive bids
the ffe specification
The FFE Specification
  • Similar in scope to other specifications
  • Supplier services are very important
    • Instructions to bidders
    • General conditions
    • Specific conditions
    • Detailed drawings
selection factors
Selection Factors
  • Intended use
  • Exact name
  • Lifetime cost
  • Potential operating savings
  • Direct purchase
  • Demonstration models
  • Equipment programs
  • Custom FFE
  • New vs. used
selection factors cont
Selection Factors (cont.)
  • Versatility
  • Compactness
  • Compatibility
  • Appearance
  • Brand name
  • Portability
  • Ease of cleaning
  • Ease of maintenance
  • Degree of automation
  • Availability of replacement parts
selection factors cont1
Selection Factors (cont.)
  • Supplier services
  • Employee attitude and skill level
  • Energy source
  • Excess capacity
  • Add-on capabilities
  • Warranty
  • Code compliance
the purchase of ffe
The Purchase of FFE
  • Cash
  • Installment Credit