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1341 - 1360 of 1848 Results

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
ACCOUNTING FOR PROPERTY DISPOSITIONS

Chapter: 8600

Section: 8640

Government Code sections 14673, 14674, and 14675 authorize the Director of General Services to approve the sale, exchange, or transfer between agencies/departments of real or personal property owned by the state if the sale, exchange, or transfer is in the best interest of the state. Before disposin ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8640
INTANGIBLE ASSETS

Chapter: 8600

Section: 8615

An intangible asset is an asset that possesses all of the following characteristics: Lacks physical substance. It may be contained in or on an item with physical substance (e.g., software stored on a compact disc), or it may be closely associated with another item that has physical substanc ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8615
FINANCIAL STATEMENT REPORTING REQUIREMENTS

Chapter: 8600

Section: 8660

Section deleted and content moved to 8670.2.

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8660
JOURNAL ENTRIES FOR THE CAPITAL ASSETS GROUP OF ACCOUNTS

Chapter: 8600

Section: 8622

Section deleted and content moved to 8670.1.

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8622
BUILDINGS

Chapter: 8600

Section: 8612

Section deleted, revised and renumbered to 8610.2

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8612
ACCOUNTING FOR PROPERTY ACQUISITIONS - LEASES AND CONTRACTS THAT TRANSFER OWNERSHIP (FINANCED PURCHASE)

Chapter: 8600

Section: 8632

Governmental Accounting Standard Board (GASB) Statement No. 87 establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Prior to GASB No. 87, leases were classified as capital leases or operating leases. G ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8632
VALUING PROPERTY- IMPAIRMENT OF CAPITAL ASSETS AND RELATED INSURANCE RECOVERIES

Chapter: 8600

Section: 8618.3

(Revised and renumbered from 8619) Defining Impairment A capital asset/property is considered impaired when its service utility has declined significantly and unexpectedly. The service utility of a capital asset/property is the expected usable capacity at acquisition. A capital asset/property may be ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8618-3
RECORDING PROPERTY DETAILS

Chapter: 8600

Section: 8650.2

(New and renumbered from 8650) When capital assets/property is acquired, agencies/departments will record the following information: Date acquired. Property description. Property identification number (tag). Historical cost or other basis of valuation. Owner fund(s). Estimated useful life, if ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8650-2
CLASSIFYING PROPERTY - LAND

Chapter: 8600

Section: 8610.1

(Revised 10/2020 and renumbered from 8611) Land is real property and includes natural elements that are attached with an indefinite useful life. The amount recorded as land is the purchase price plus all the related costs to prepare the land for its intended use. Land is recorded as a separate capit ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8610-1
CLASSIFYING PROPERTY – MAJOR CLASSES

Chapter: 8600

Section: 8601

Capital assets/property refers to all assets used in governmental operations. This includes both tangible and intangible capital assets/property in the following major classes: Tangible Assets Land Buildings and Building Improvements Improvements Other Than Buildings (Land Improvements) ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8601
INTANGIBLE ASSETS-INTERNALLY GENERATED INTANGIBLE ASSETS

Chapter: 8600

Section: 8615.3

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

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8615-3
IMPAIRMENT OF CAPITAL ASSET AND RELATED INSURANCE RECOVERIES

Chapter: 8600

Section: 8619

Section deleted and content moved to 8618.3

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8619
ACCOUNTING FOR PROPERTY ACQUISITIONS - TRANSFER

Chapter: 8600

Section: 8633

State agencies/departments (transferees) which acquire capital assets/property free of charge or significantly discounted from other state agencies/departments (transferors) will record the capital asset/property at the same historical cost as that recorded on the books of the transferor agency/depa ...

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8633
ACCOUNTING AND CONTROL OF PROPERTY

Chapter: 8600

Section: 8650

Deleted and moved to 8650.1, 8650.2 and 8650.4.

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8650
ENTRIES FOR FUNDS USING THE CAPITAL ASSETS GROUP OF ACCOUNTS

Chapter: 8600

Section: 8671

(Deleted and moved to 10537-10539

https://www.dgs.ca.gov/Resources/SAM/TOC/8600/8671

Search DGS

1341 - 1360 of 1848 Results

USEFUL LIFE

ACCOUNTING FOR PROPERTY ACQUISITIONS - INTERNALLY GENERATE INTANGIBLE ASSETS

CLASSIFYING PROPERTY - CONSTRUCTION WORK IN PROGRESS

VALUING PROPERTY - IMPROVEMENTS

INTANGIBLE ASSETS - COMPUTER SOFTWARE

ACCOUNTING FOR PROPERTY DISPOSITIONS

INTANGIBLE ASSETS

FINANCIAL STATEMENT REPORTING REQUIREMENTS

JOURNAL ENTRIES FOR THE CAPITAL ASSETS GROUP OF ACCOUNTS

BUILDINGS

ACCOUNTING FOR PROPERTY ACQUISITIONS - LEASES AND CONTRACTS THAT TRANSFER OWNERSHIP (FINANCED PURCHASE)

VALUING PROPERTY- IMPAIRMENT OF CAPITAL ASSETS AND RELATED INSURANCE RECOVERIES

RECORDING PROPERTY DETAILS

CLASSIFYING PROPERTY - LAND

CLASSIFYING PROPERTY – MAJOR CLASSES

INTANGIBLE ASSETS-INTERNALLY GENERATED INTANGIBLE ASSETS

IMPAIRMENT OF CAPITAL ASSET AND RELATED INSURANCE RECOVERIES

ACCOUNTING FOR PROPERTY ACQUISITIONS - TRANSFER

ACCOUNTING AND CONTROL OF PROPERTY

ENTRIES FOR FUNDS USING THE CAPITAL ASSETS GROUP OF ACCOUNTS