Wiley GAAP for Governments 2015: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments

14 CAPITAL ASSETS

Introduction

Capitalization Policy

Valuation of Assets Recorded

Capital Asset Accounting

Depreciation of Capital Assets

Modified Approach

Definition

Accounting and Financial Reporting for Intangible Assets Using the Economic Resources Measurement Focus

Internally Generated Intangible Assets

Internally generated computer software

Specific Amortization Issues

Impairment Indicator

Accounting and Financial Reporting for Intangible Assets Using the Current Financial Resources Measurement Focus

Impairment of Capital Assets

Definition of Impairment

Determining Whether a Capital Asset Is Impaired

Identifying events or circumstances that may indicate impairment

Testing for impairment

Measuring Impairment

Restoration cost method

Services units method

Deflated depreciated replacement cost method

Reporting Impairment Losses

Insurance Recoveries

Disclosures Relating to Capital Assets

Service Concession Arrangements

Service Concession Arrangements within the Scope of GASBS 60

Transferor Accounting and Financial Reporting for Facilities and Related Payments Received from an Operator

Governmental Operator Accounting and Financial Reporting for the Right to Access Facilities and Related Payments to a Transferor

Accounting for Revenue Sharing Arrangements

Required Disclosures

Capitalization of Interest

Background

Amount of Interest to Be Capitalized

Capitalization Period

Capitalization of Interest Involving Tax-Exempt Borrowings and Certain Gifts and Grants

Disclosures

Summary ...