The asset log is used to keep track of all the material that goes into making a project, that isn’t actually the footage it’s self. For my advert that was the things like the voice over and on screen graphic. It’s in effect an external version of a footage log. An asset log can be really useful if your production has many different pieces of material from a wide variety of source, because an asset log is a note of where they all are and a description of their quality. The asset log is really easily accessible because all of this vital information is in one place. If you are making a film shot over a log period of time in which you will use many different storage devices it’s essential to keep a record of where everything is. I didn’t really find the asset log that useful as I did have a lot of assets to keep track of.
The edit decision list is recorded by the editor in post production. It’s a way of deducing the good footage from the bad footage. It’s like an extension of the footage log. It’s very full for editors because they will often look over the same 5 minutes of footage many times and make many different cuts to it, so it’s essential they record what in and out codes correspond to what take so they don’t get confused when they have to place all of the footage together again.
I found the edit decision list very useful as it meant none of my selections over lapped and it didn’t take me that long to place all of the footage together again. However I separate the footage I’ve selected to use from the remaining footage by moving to a different place on the sequence when cutting using so an edit decision list wasn’t as essential as the good material is already separate from the bad material.