ASTM_E_2671_-_10.pdf

Designation:E267110Standard Practice forDefining Movements,Shipments,and Transfers of TangibleProperty1This standard is issued under the fixed designation E2671;the number immediately following the designation indicates the year oforiginal adoption or,in the case of revision,the year of last revision.A number in parentheses indicates the year of last reapproval.Asuperscript epsilon()indicates an editorial change since the last revision or reapproval.1.Scope1.1 This practice defines and clarifies the differences be-tween movements,shipments,and transfers of tangible prop-erty to support the goals and mission of the entity.1.2 This practice is intended to be applicable and appropri-ate for tangible property holding entities.1.3 This practice contains information on movements,shipments,and transfers as defined herein and includes otherterms from Terminology E2135.1.4 This practice enables effective and consistent commu-nication across entities through standard use of the terminol-ogy.1.5 This practice does not include actual instructions ordirections on how to complete or conduct movements,shipments,or transfers.1.6 For the purpose of clarification and communication,shipment and movement are considered two different activitiesin this practice.1.7 The values stated in SI units are to be regarded asstandard.No other units of measurement are included in thisstandard.1.8 This standard does not purport to address all of thesafety concerns,if any,associated with its use.It is theresponsibility of the user of this standard to establish appro-priate safety and health practices and determine the applica-bility of regulatory limitations prior to use.2.Referenced Documents2.1 ASTM Standards:2E2135 Terminology for Property and Asset Management3.Terminology3.1 DefinitionsFor definitions relating to property andasset management,refer to Terminology E2135.3.1.1 movement,nact or process of physically relocatingtangible property from one location,internal area,or person toanother within an entitys site,generally regarded as an onsitelocation change.3.1.2 movement document,nany document created torecord the movement of tangible property with properauthorization,for example,internal entity specific forms,moveorder,hand receipt,etc.,used to update and support recordsestablished and maintained for management and audit pur-poses.3.1.3 shipment,nact or process of transporting tangibleproperty from one person,organization,or entity to an offsitelocation.3.1.4 shipping document,nany document created to ac-complish the shipment of tangible property,for example,entityspecific forms,commercial or government bills of lading,client specific forms,government specific forms,etc.,and usedto update and support records established and maintained formanagement and audit purposes.3.1.5 transfer,nconveyance of right,title,interest,orobligation in tangible property from one person,organization,or entity to another and can occur with or without financialobligation or physical movement.3.1.6 transfer document,nany document created to autho-rize or reference proper authorization for a transfer and recordthe transfer of tangible property,for example,entity specificforms,client specific forms,customer specific forms,etc.,andused to update and support records established and maintainedfor management and audit purposes.4.Summary of Practice4.1 This practice establishes definitions and clarificationabout property movements,shipments,and transfers bothwithin an entity and externally to other entities while support-ing the goals and mission of any entity responsible for tangibleproperty.1This practice is under the jurisdiction of ASTM Committee E53 on AssetManagement and is the direct responsibility of Subcommittee E53.01 on ProcessManagement.Current edition approved Oct.1,2010.Published November 2010.DOI:10.1520/E2671-10.2For referenced ASTM standards,visit the ASTM website,www.astm.org,orcontact ASTM Customer Service at serviceastm.org.For Annual Book of ASTMStandards volume information,refer to the standards Document Summary page onthe ASTM website.Copyright ASTM International,100 Barr Harbor Drive,PO Box C700,West Conshohocken,PA 19428-2959.United States1 4.2 This practice enables property management personnel tounderstand and distinguish the differences between the con-cepts of movement,shipment,and transfer.4.3 This practice gives entities who conduct movements,shipments,and transfers a common vocabulary with which tocommunicate.4.4 Understanding of this practice and use of referenceddocuments should provide auditable documents for proof ofmovements,shipments,and transfers.4.5 Entities adopting this practice should establish entityspecific policies or procedures implementing this practice.5.Significance and Use5.1 Movement is the act or process of physically relocatingtangible property from one location,internal area,or person toanother within an entitys site,generally regarded as an onsitelocation change.5.1.1 Movement applies to tangible property rel