![]() Examples of infrastructure assets include roads, bridges, tunnels, drainage systems, water and sewer systems, dams, and lighting systems. Infrastructure assets are long-lived capital assets that normally are stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets. …land, improvements to land, easements, buildings, building improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure, and all other tangible or intangible assets that are used in operations and that have initial useful lives extending beyond a single reporting period. Paragraph 19 of Statement 34, as amended, defines capital assets as including the following (footnotes omitted): ![]() ![]() 96, Subscription-Based Information Technology Arrangements. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements 72, Fair Value Measurement and Application 60, Accounting and Financial Reporting for Service Concession Arrangements 51, Accounting and Financial Reporting for Intangible Assets 44, Economic Condition Reporting: The Statistical Section 42, Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries However, capital assets are the primary focus of (or are significantly addressed in) multiple pronouncements, including: 34, Basic Financial Statements-and Management's Discussion and Analysis-for State and Local Governments, paragraphs 18–29, as amended. Capital Assets Research Description : The objective of this pre-agenda research is to review the existing standards applicable to capital asset accounting and financial reporting to evaluate whether the information reported about capital assets could: (1) be more comparable across governments and more consistent over time (2) be more useful for making decisions and assessing government accountability (3) be more relevant to assessments of a government’s economic condition, including its financial position, fiscal capacity, and service capacity and (4) better reflect the capacity of those assets to provide service and how that capacity may change over time.īackground : The basic capital asset standards reside in Statement No.
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