This tool includes three sample policies that can be used to establish guidelines and set appropriate accounting procedures for the acquisition of technology, equity and other nonmarketable investments (including joint ventures), as well as for payments made for nonrecurring engineering costs and other in-process research and development. The policy also establishes guidelines for managing obsolete or unrepairable equipment through approved recyclers.

Furthermore, it emphasizes the roles and responsibilities of different parties involved in acquisition processes, including IT managers, employees, consultants, contractors, third-party providers and internal audit teams. The document ensures that all acquisitions meet the company's strategic priorities and business functions while maintaining cost-efficiency. In essence, this policy assists organizations in managing their technology resources effectively by standardizing procedures related to technology acquisition and disposition.

Sample procedures include:

• IT receives or initiates a request to acquire technology (hardware or software).
• IT creates an authorization for expenditure form if required.
• IT determines if the request is of a dollar amount requiring authorization for expenditure to be filled out.
• IT obtains the appropriate approvals on the authorization for expenditure form based on the delegation of authority matrix.