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Tag Archives: capitalization
Capital Assets Under the Capitalization Threshold – Part II
With the beginning of a new fiscal year, it is always a great time to note what new financial reporting requirements will be effective for the year to proactively plan for any significant changes rather than retroactively attempting to implement … read more
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Tagged capital assets, capitalization, Christopher Heinfeld, financial statements, GASB, threshold
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Capital Assets under the Capitalization Threshold
The common understanding under Government Accounting Standards Board (GASB) Statement 34 was that capital items under the capitalization threshold, typically $5,000, were not capitalized and that like items (laptops, furniture) would not be added together to create one asset. However, … read more
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Tagged Arizona, capital assets, capitalization, financial report, GASB, government, inventory, Michael Lauzon, school district, value
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Maintenance & Repair or Capital Asset?
There are times when it is easy to determine that an asset should be capitalized, such as purchasing a piece of equipment over the capitalization threshold. Other purchases may be more complicated, such as roofing, streets, and add-ons that may … read more
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Tagged accounting, Arizona, asset listing, capital asset, capitalization, CPA, CPA firm, financial statement, GASB, government, maintenance, municipality
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