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Telecom test equipment keypad layout4/30/2023 It equals the gross or nominal amount of an asset or liability minus any allowance or valuation amount.Ĭapital asset - Land (including park lands), structures, equipment (including motor and aircraft fleets) and intellectual property (including software), that are used by the federal government and that have an estimated useful life of two years or more.Ĭapitalize - To record a cost as an asset rather than an expense.Ĭapital lease - Any lease other than a lease-purchase that does not meet the criteria of an operating lease. This includes all costs incurred to bring the asset to a form and location suitable for its intended use.Īsset - Tangible or intangible items owned by the federal government that have probable economic benefits that can be obtained or controlled by a federal government entity.īook value - The net amount at which an asset or a liability is carried on the books (also referred to as carrying value or amount). This IRM supersedes IRM 1.35.6, dated September 27, 2019, and incorporates Interim Guidance Memorandum CFO-01-1020-0001, Interim Guidance on Property and Equipment Accounting, dated December 21, 2020.Īcquisition cost - The original cost of an asset to the government, which is the amount recorded in the financial and accounting records. (14) Minor editorial changes were made throughout this document. (13) IRM 1.35.6.9, Disposals and Missing Assets, deleted missing assets. (12) IRM 1.35.6.8, Impairment, added to reflect current process. (11) IRM 1.35.6.7, Maintenance, Repair and Rehabilitation, edited to reflect current process. (10) IRM 1.35.6.5.2, Physical Security Protection, updated to reflect current process. Equipment Repurpose, removed as it is irrelevant to this IRM chapter. (9) Previous IRM 1.35.6.5.2, IT Equipment Distribution for Refreshment vs. (8) IRM 1.35.6.4.6, Leasehold Improvements, revised to reflect current process. (7) IRM 1.35.6.4.5, Investigative or Forensic Equipment, replaced table with paragraphs. (6) IRM 1.35.6.4.4, Internal Use Software, replaced table with paragraphs, updated to reflect current process, and removed process covered in another subsection. (5) IRM 1.35.6.4.3, Furniture and Fixtures, updated to reflect current process. (4) IRM 1.35.6.4.2, Non-IT Equipment, replaced table with paragraphs and updated to reflect current process. (3) IRM 1.35.6.4.1, Information Technology Equipment, replaced table with paragraphs and updated to reflect current process. (2) IRM 1.35.6.4, Property and Equipment Capitalization, updated to reflect current process. (1) Revised as necessary to follow new IRM format style. (1) This transmits revised IRM 1.35.6, Financial Accounting, Property and Equipment Accounting. Property and Equipment Accountingġ.35.6 Property and Equipment Accounting Manual Transmittal Organization, Finance, and Management Chapter 35. 1.35.6.7 Maintenance, Repair and Rehabilitation.1.35.6.6 Reconciliation of IFS to KISAM.1.35.6.5.2 Physical Security Protection.1.35.6.4.5 Investigative or Forensic Equipment.1.35.6.4.1 Information Technology Equipment.1.35.6.4 Property and Equipment Capitalization.1.35.6.3 Recording Property and Equipment Transactions.1.35.6.2.3 Receipt and Acceptance Process.1.35.6.2 Acquisition of Goods and Services.1.35.6.1.4 Program Management and Review.1.35.6.1.3.12 Criminal Investigation Management Information System Equipment Coordinator.1.35.6.1.3.8 Program Manager, IT Service Asset and Configuration Management.1.35.6.1.3.6 Office of the Chief Procurement Officer.1.35.6.1.3.4 Chief, Facilities Management and Security Services (FMSS).1.35.6.1.3.3 Financial Reporting Office.1.35.6.1.3.2 Associate CFO for Financial Management and Deputy Associate CFO for Administrative Financial Management.1.35.6 Property and Equipment Accounting.
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