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661 - 680 of 1849 Results

CLASSIFYING PROPERTY - COLLECTIONS

Chapter: 8600

Section: 8610.8

Collections include a grouping of works of art, historical treasures, or similar items whose purpose is public exhibition, education, or research. Agencies/departments are not required to capitalize a collection (and all additions to that collection), whether donated or purchased, that meets all of ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8610-8
CLASSIFYING PROPERTY - CAPITALIZED PROPERTY

Chapter: 8600

Section: 8602

Property is capitalized for accounting purposes when certain conditions are met. Capitalization means to record the property in the accounting records as capital assets if they meet predetermined criteria, commonly known as the capitalization threshold. Agencies/Departments shall capitalize t ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8602
STANDARD JOURNAL ENTRIES—PROPERTY

Chapter: 8600

Section: 8670

Section deleted and content moved to 8670.2.

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8670
CLASSIFYING PROPERTY - LEASEHOLD IMPROVEMENTS

Chapter: 8600

Section: 8610.4

Leasehold improvements are improvements to property that is not owned by the state. The improvements may be capitalized if the costs meet the capitalization threshold in SAM section 8602 and one condition of SAM section 8618.1. Improvements paid by the lessor are not recorded as leasehold improvemen ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8610-4
INVENTORYING PROPERTY

Chapter: 8600

Section: 8652

Taking Physical Inventory Agencies/departments will make a physical count of all property and reconcile the count with the accounting records at least once every three years. Inventory counting does not need to be performed at one time for an entire agency’s/department’s capital a ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8652
CLASSIFYING PROPERTY - IMPROVEMENTS OTHER THAN BUILDINGS (LAND IMPROVEMENTS)

Chapter: 8600

Section: 8610.3

(Revised 10/2020 and renumbered from 8613) Improvements other than buildings (land improvements) consist of permanent improvements that add value to land but do not have an indefinite useful life. The improvements may be associated with a specific building, but would not be an improvement of the bui ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8610-3
PURPOSE AND DEFINITION OF PROPERTY ACCOUNTING - TERMS AND DEFINITIONS

Chapter: 8600

Section: 8600.1

Capital Assets/Property: may be capitalized or non-capitalized. The term capital assets/property is used interchangeably in SAM Chapter 8600 and includes all tangible and intangible assets. Capitalized Asset: is a capital asset whose estimated useful life and cost to acquire, construct, or improve e ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8600-1
CLASSIFYING PROPERTY - BUILDINGS AND BUILDING IMPROVEMENTS

Chapter: 8600

Section: 8610.2

(Revised 10/2020 and renumbered from 8612) Buildings Buildings are structures that provide workspace, storage space, or are used in some other capacity for state activities. Buildings are recorded as a separate capital asset, even if it is closely associated with another capital asset. For example, ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8610-2
OTHER CAPITALIZED AND NON-CAPITALIZED TANGIBLE PROPERTY

Chapter: 8600

Section: 8614

Section deleted, revised and renumbered to 8610.5

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8614
DEPRECIATION AND AMORTIZATION

Chapter: 8600

Section: 8616

(Revised and renumbered from 8617) Depreciation Depreciation is the mechanism used to allocate the cost of a tangible asset over the estimated useful life of the asset. The cost of capitalized tangible assets is equitably allocated as an expense to each of the benefitting periods through the depreci ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8616
ACCOUNTING FOR PROPERTY ACQUISITIONS - PURCHASE

Chapter: 8600

Section: 8631

Purchased capital assets/property are recorded at historical cost. Historical cost is the purchase price plus all related costs incurred to put the asset into place and make ready for its intended use.

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8631
CLASSIFYING PROPERTY - NON-CAPITALIZED PROPERTY

Chapter: 8600

Section: 8603

Property that does not meet the capitalization threshold in SAM section 8602 is considered non-capitalized property. Acquisition of non-capitalized property will be recorded in the property register, accounted for as an expenditure in the period acquired, and recorded in the general ledger as a non- ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8603
BASIC RULES

Chapter: 8600

Section: 8621

Section deleted and content moved to 8670.1.

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8621
ENTRIES FOR FUNDS NOT USING THE CAPITAL ASSETS GROUP OF ACCOUNTS

Chapter: 8600

Section: 8672

Deleted and moved to 10537-10539

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8672
FINANCIAL STATEMENT REPORTING REQUIREMENTS

Chapter: 8600

Section: 8670.2

Capital assets will be included in year-end financial reports. Accounting units must work closely with the property controller to ensure the inventory and the property register tie to the capital asset accounts in the general ledger. Agency/department heads are required to certify the real property ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8670-2
ACCOUNTING AND RECONCILING CAPITALIZED PROPERTY RECORDS

Chapter: 8600

Section: 8650.4

(New and renumbered from 8650) The capitalized section of the property register shall serve as the subsidiary ledger for the assets of the owner fund. Reconciliation of the capital asset subsidiary ledger to the assets of a fund and capital expenditures should be performed monthly or at least quarte ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8650-4
ACCOUNTING FOR PROPERTY ACQUISITIONS

Chapter: 8600

Section: 8630

There are seven ways to acquire capital assets/property: Purchase Installment purchase/capital lease Transfer Gift Internally generate Internally construct Warranty replacement Accounting for each method is explained in SAM sections 8631-8637. All additions to capital assets/property ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8630
ACCOUNTING FOR PROPERTY ACQUISITIONS – RIGHT-TO-USE SUBSCRIPTION-BASED INFORMATION TECHNOLOGY ARRANGEMENTS (SBITA)

Chapter: 8600

Section: 8632.1

Governmental Accounting Standards Board (GASB) Statement No. 96 establishes uniform accounting and financial reporting requirements for subscription-based information technology arrangements (SBITAs). GASB Statement No. 96 reporting is effective for the fiscal year ending June 30, 2023. For i ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8632-1
SENSITIVE NON-CAPITALIZED PROPERTY

Chapter: 8600

Section: 8650.3

(New and renumbered from 8603.) Agencies/departments will maintain adequate control over sensitive and high-risk items that are prone to theft/loss, misuse, or may contain sensitive data. Examples of sensitive and high-risk items include: Computers, printers, scanners Smartphones, tablets, other ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8650-3
ACCOUNTING FOR PROPERTY ACQUISITIONS – WARRANTY REPLACEMENTS

Chapter: 8600

Section: 8637

Capital assets/property which are replaced with new capital assets/property under a warranty contract should be accounted for as follows: The old capital asset/property and any related accumulated depreciation should be reversed from the asset accounts. The replacement capital asset/property shou ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8637

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661 - 680 of 1849 Results

CLASSIFYING PROPERTY - COLLECTIONS

CLASSIFYING PROPERTY - CAPITALIZED PROPERTY

STANDARD JOURNAL ENTRIES—PROPERTY

CLASSIFYING PROPERTY - LEASEHOLD IMPROVEMENTS

INVENTORYING PROPERTY

CLASSIFYING PROPERTY - IMPROVEMENTS OTHER THAN BUILDINGS (LAND IMPROVEMENTS)

PURPOSE AND DEFINITION OF PROPERTY ACCOUNTING - TERMS AND DEFINITIONS

CLASSIFYING PROPERTY - BUILDINGS AND BUILDING IMPROVEMENTS

OTHER CAPITALIZED AND NON-CAPITALIZED TANGIBLE PROPERTY

DEPRECIATION AND AMORTIZATION

ACCOUNTING FOR PROPERTY ACQUISITIONS - PURCHASE

CLASSIFYING PROPERTY - NON-CAPITALIZED PROPERTY

BASIC RULES

ENTRIES FOR FUNDS NOT USING THE CAPITAL ASSETS GROUP OF ACCOUNTS

FINANCIAL STATEMENT REPORTING REQUIREMENTS

ACCOUNTING AND RECONCILING CAPITALIZED PROPERTY RECORDS

ACCOUNTING FOR PROPERTY ACQUISITIONS

ACCOUNTING FOR PROPERTY ACQUISITIONS – RIGHT-TO-USE SUBSCRIPTION-BASED INFORMATION TECHNOLOGY ARRANGEMENTS (SBITA)

SENSITIVE NON-CAPITALIZED PROPERTY

ACCOUNTING FOR PROPERTY ACQUISITIONS – WARRANTY REPLACEMENTS