Fixed Asset acquisition is the adding of new assets to the inventory of Fixed Assets. There are different ways by which a fixed asset can be acquired. This can be either by the purchase of a FA commodity. The purchase of the FA would go through the process of order for the FA commodity, making a payment request for the commodity and disbursement the payment. Such commodity would be capitalized as fixed assets. The other way is by receiving FA commodity as donations or as grants from external agencies. The third way is by constructing them. You can record the FA based on the way in which they were added to the inventory of fixed assets.
At the time of capitalizing a commodity you would have to establish the responsibility center COA values, expected useful life of the asset, the physical location of the asset and such other relevant details.