GASB Statement 34 requires that companies report significant disclosures about their capital assets. The disclosures are made according to major capital asset classes such as land, building, equipment, improvements to assets, etc. They are separated by assets for governmental activities and assets used for business-type activities.
Beginning balances, capital acquisitions, sales and dispositions, ending balances and current period depreciation expenses must be disclosed.
Finally, a summary of these disclosures is required by management in the Management's Discussion and Analysis.
GASB Statement 34 requires that companies report significant disclosures about their capital assets. The disclosures are made according to major capital asset classes such as land, building, equipment, improvements to assets, etc. They are separated by assets for governmental activities and assets used for business-type activities.
ReplyDeleteBeginning balances, capital acquisitions, sales and dispositions, ending balances and current period depreciation expenses must be disclosed.
Finally, a summary of these disclosures is required by management in the Management's Discussion and Analysis.