In: Accounting
WEEK 2 ASSIGNMENT#2
For the Harry & Mae's Case Study, you need to conduct an asset identification and analysis. This is the first step in the Risk Assessment process (you need to know what you have in order to protect it). This means evaluating and listing the company's assets. You need to document the tangible and intangible assets and their real or potential value as provided in the case study. I'll leave the detail level up to you, but suggest you focus on the highest value assets. Include an introductory paragraph to explain your document.
CONDUCT ASSET IDENTIFICATION ANALYSIS FROM THE BELOW INFORMATION
(WEB HOSTING, CAMPUS WORKSTATIONS, AND OFF-CAMPUS).
WEB HOSTING:
The Web server is used to host the company’s web site. The site has
two parts that are both hosted on the same server, a public part
that is available over the Internet using the company’s and a
“private” part that is available on the internal network only that
is accessible only by using the internal Employees can log into the
“private” Web site using their Windows login credentials and view
their pay statements, work performance reports, vacation time, and
other personal information. The franchise owner in Scranton, PA
purchased and uses the domain for customers at his three
restaurants. He also has an active Facebook page and Twitter and
Instagram accounts. He often runs contest using these sites.
CAMPUS WORKSTATIONS:
The company has over 400 Dell Optiplex 3020 workstations with
Windows 7 Professional installed. All computers are joined to the
company’s Active Directory domain. These computers are configured
for IPv4 only, and IPSec is disabled by group policy. All
workstations have Symantec Endpoint Protection installed. About 1/3
of employees have local administrator access in order to install
and run applications. The company uses WSUS to update Microsoft
applications. There is no standard process for updating other
programs. In spite of the new relaxed password rules, some
employees still write their passwords down, and they can be found
taped to the inside of drawers, on the bottom of mousepads, or on
notes stuck to their monitors. The company uses a Web front end for
all of its applications, and the workstations are capable of
accessing them using Microsoft’s Internet Explorer. IE10 is the
company standard. Some employees have installed and use other
browsers. Remote users have access to the same applications via the
VPN.
OFF-CAMPUS:
The default configuration for new restaurants consists of a
high-speed Internet connection supplied by a local provider, a
Network Address Translation (NAT) firewall device that includes a
wireless access point, an office computer, and two point-of-sale
computer systems that include credit card processing software. The
WAP router at each store is procured and set-up by the franchise
owner. All franchises are supposed to have free Internet WiFi for
customers. All computers are Microsoft Windows 7 machines with
Norton Antivirus software. All employees have user names and
passwords for the system. There have been problems with computers
becoming infected with malware because the point-of-sale software
can be minimized. Point of-sale computers connect with the
corporate headquarters for payment processing using Microsoft PPTP
VPN clients on each machine.
Web hosting | ||
Intangible Assets | ||
Company's website/domain | ||
Campus workstations | ||
Tangible | ||
Dell optiplex 3020 | 400 | |
Add: cost of windows 7 license | ||
Drawers | 400 | (assumping equivalent to number of workstation) |
Mousepads | 400 | (assumping equivalent to number of workstation) |
Monitors | 400 | (assumping equivalent to number of workstation) |
Intangible | ||
Symantec endpoint protection | ||
Microsoft Applications | ||
Internet explorer | ||
PPTP VPN | ||
Directory domain | ||
Offcampus | ||
Particulars | ||
Tangible Assets | ||
WAP router | ||
office computer | ||
Sales computers | ||
Network Access translation firewall device | ||
Intangible | ||
credit card processing software | ||
Norton Antivirus software |
Acording to IAS 38, an intangible asset is an identifyable non-monatory asset without physical substance. Such asset is identifyable and separable. Separate assets can be sold, transferred, licensed, etc. |
Examples: Computer software, licenses, trademarks, patents, films, copyrights |
Windows 7 license | windows is an operating system and it is an integral part of computers because workstations can't run without the system and hence, it would be recognised together with the computers so no separate intangible asset would be recognised |
WSUS license | Annual upgrades do not meet the definition of intangible asset because they are not separable, thus they are expense in profit or loss when incurred |
Microsoft applications | These are seperable and meets definition of intangible assets, they are not essential to run the computer and hence can be separatel shown as intangible assets |
Microsoft internet explorer | Internet explorer is a part of windows license |