Indiana University policy requires all organizations with capital equipment to conduct a physical inventory once every two years. A physical inventory is the process of physically verifying that capital equipment exists and providing proof of that existence by scanning a yellow Indiana University barcode tag affixed to the equipment.
Capital Movable Asset Physical Inventories, Tagging and Location Changes, FIN-ACC-170 is the main IU policy that requires departments to execute the physical inventory task for movable-class equipment and the importance to secure University assets while complying with federal guidelines.
CSOP 4.0 Physical Inventories contains a more thorough explanation of the actual inventory process.
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