Strategies for Sustainable Accounting and Maintenance of Obsolescence in Public Enterprise

Abstract

In recent years, there have been noticeable lackadaisical attitudes among accountants and managers towards adequate accounting for, and maintenance of obsolescence in public enterprises (i.e. the corporations). Most of these obsolete facilities and equipment have lost their functional values as a result of lack of adequate accounting and maintenance practices. The dilapidated and deteriorating state of obsolete facilities in public enterprise leave much to be desired. This paper focuses on the strategies for sustainable accounting for and maintenance of obsolescence in public enterprise. The meaning of obsolescence and depreciation, accounting, Public enterprise, and maintenance of obsolescence are examined. Accounting and maintenance strategies are highlighted and recommendations proffered.

Keywords: accounting, maintenance