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ACCOUNTING FOR PROPERTY ACQUISITIONS - INTERNALLY CONSTRUCTED TANGIBLE ASSETS

Chapter: 8600

Section: 8636

(New and renumbered from 8454 and 8705) Tangible capital assets/property are considered internally built if: They are created or produced by the agency/department. An entity contracted by the agency/department. If they are acquired from a third party but require more than minimal incremental eff ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8636
CLASSIFYING PROPERTY - EQUIPMENT

Chapter: 8600

Section: 8610.5

(Revised 10/2020 and renumbered from 8614) All other tangible capital assets/property are recorded in the general ledger as equipment. Equipment costs are capitalized when the capitalization threshold in SAM section 8602 is met. Examples include: Computers Vehicles Tools Machinery Furniture, f ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8610-5
CAPITAL ASSET ACCOUNTING AND REPORTING RULES BY FUND

Chapter: 8600

Section: 8670.1

(New and renumbered from 8620, 8621, and 8622) Capital asset accounting and reporting requirements differ depending on the owner fund's classification and the measurement focus used. State funds classified on a Generally Accepted Accounting Principles (GAAP) basis include the following: Government ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8670-1
MAINTAINING PROPERTY RECORDS

Chapter: 8600

Section: 8650.1

(New and renumbered from 7821 and 8650) Property Inventory System To maintain accountability of capital assets/property, agencies/departments will maintain a record of all property, whether capitalized or not, in a property accounting or inventory system. This system may be automated or manual. Prop ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8650-1
LAND

Chapter: 8600

Section: 8611

Section deleted, revised and renumbered to 8610.1

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8611
INTANGIBLE ASSETS – RIGHT-TO-USE LEASE ASSET

Chapter: 8600

Section: 8615.4

A right-to-use lease asset is an intangible capital asset. The asset represents the right to use an underlying asset identified in a lease contract, as specified for a period of time. Agencies/Departments will recognize the intangible right-to-use lease asset when: The contract conveys control of ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8615-4
ACCOUNTING FOR PROPERTY DISPOSITIONS - TRADE-IN OF PROPERTY

Chapter: 8600

Section: 8642

Agencies/departments which plan to trade in capital assets/property should first receive approval from the Department of General Services, Surplus Property and Reutilization program. The Surplus Property and Reutilization program will determine whether the property being traded-in should be acquired ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8642
PROPERTY—DEFINITION

Chapter: 8600

Section: 8609

Section deleted

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8609
VALUING PROPERTY

Chapter: 8600

Section: 8618

Capital assets/property acquired through purchase or internally built/generated, will be reported at the historical cost (i.e., the cost of the asset, and the related costs necessary to place the asset in its intended location and condition for use). Gifts, warranty replacements, and certain transfe ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8618
ACCOUNTING FOR PROPERTY ACQUISITIONS - GIFT

Chapter: 8600

Section: 8634

Gifts are normally either real property and intangibles or personal property, such as equipment and cash. Retain receipts, letters, stock received reports, or other documents as evidences of gifts. Government Code sections 8647, 11005, and 16302 pertain to the state’s acceptance of gifts ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8634
PROPERTY ACCOUNTING—BASIC ACCOUNTING REQUIREMENTS/DIFFERENCES

Chapter: 8600

Section: 8620

Section deleted and content moved to 8670.1.

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8620
ACCOUNTING FOR PROPERTY DISPOSITIONS - SALE OF PROPERTY

Chapter: 8600

Section: 8641

Accounting for capital assets/property sales differs depending on the Generally Accepted Accounting Principles (GAAP) classification of the owner fund. Governmental Funds Capital assets/property sold by governmental funds are removed from the asset accounts of the governmental fund (Legacy ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8641
PURPOSE AND OBJECTIVE OF PROPERTY ACCOUNTING

Chapter: 8600

Section: 8600

Property accounting policies and procedures are designed to maintain uniform accountability for the management, control, accounting, and record-keeping of state property. A combination of accurate accounting records and strong internal controls must be in place to prevent and detect the unauthorized ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8600
INTANGIBLE ASSETS - LAND USE RIGHTS

Chapter: 8600

Section: 8615.2

Land use rights include easements or mineral, timber, and water rights. Land use rights acquired in a transaction that does not involve acquiring the associated land should be reported as an intangible asset. In contrast, land use rights acquired with a land purchase are reported as land. Land use r ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8615-2
IMPROVEMENTS OTHER THAN BUILDINGS

Chapter: 8600

Section: 8613

Section deleted, revised and renumbered to 8610.3

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8613
USEFUL LIFE

Chapter: 8600

Section: 8617

Useful life is the period of time during which a capital asset/property provides service. Capital assets/property for state agencies/departments using FI$Cal have standard estimated useful lives for all asset classifications. For agencies/departments deferred/exempt from using FI$Cal, ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8617
ACCOUNTING FOR PROPERTY ACQUISITIONS - INTERNALLY GENERATE INTANGIBLE ASSETS

Chapter: 8600

Section: 8635

Intangible capital assets/property are considered internally generated if they are created or produced: By the agency/department. An entity contracted by the agency/department. If they are acquired from a third party but require more than minimal incremental effort on the part of the agency/depa ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8635
CLASSIFYING PROPERTY - CONSTRUCTION WORK IN PROGRESS

Chapter: 8600

Section: 8610.7

Construction work in progress is used to accumulate costs incurred to construct or develop a tangible capital asset before it is substantially ready to be placed into service (at which time the costs would be reclassified into the appropriate major classification). Depreciation cannot begin until th ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8610-7
VALUING PROPERTY - IMPROVEMENTS

Chapter: 8600

Section: 8618.1

Improvements, betterments and additions are costs that add value to an existing capital asset/property. An improvement that meets the capitalization threshold in SAM section 8602 is required to meet the criteria of this section. The improvement should have an estimated useful life that is representa ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8618-1
INTANGIBLE ASSETS - COMPUTER SOFTWARE

Chapter: 8600

Section: 8615.1

Agencies/Departments shall capitalize costs for purchased software licenses if they meet the capitalization threshold in SAM Section 8602. For information on internally generated intangible assets, see SAM Section 8615.3. Agencies/Departments shall record capitalized computer softwa ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8615-1

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621 - 640 of 1849 Results

ACCOUNTING FOR PROPERTY ACQUISITIONS - INTERNALLY CONSTRUCTED TANGIBLE ASSETS

CLASSIFYING PROPERTY - EQUIPMENT

CAPITAL ASSET ACCOUNTING AND REPORTING RULES BY FUND

MAINTAINING PROPERTY RECORDS

LAND

INTANGIBLE ASSETS – RIGHT-TO-USE LEASE ASSET

ACCOUNTING FOR PROPERTY DISPOSITIONS - TRADE-IN OF PROPERTY

PROPERTY—DEFINITION

VALUING PROPERTY

ACCOUNTING FOR PROPERTY ACQUISITIONS - GIFT

PROPERTY ACCOUNTING—BASIC ACCOUNTING REQUIREMENTS/DIFFERENCES

ACCOUNTING FOR PROPERTY DISPOSITIONS - SALE OF PROPERTY

PURPOSE AND OBJECTIVE OF PROPERTY ACCOUNTING

INTANGIBLE ASSETS - LAND USE RIGHTS

IMPROVEMENTS OTHER THAN BUILDINGS

USEFUL LIFE

ACCOUNTING FOR PROPERTY ACQUISITIONS - INTERNALLY GENERATE INTANGIBLE ASSETS

CLASSIFYING PROPERTY - CONSTRUCTION WORK IN PROGRESS

VALUING PROPERTY - IMPROVEMENTS

INTANGIBLE ASSETS - COMPUTER SOFTWARE