Significant disclosures regarding capital assets are required according to GASB statement 34. In the notes of the financial statements, these disclosures should be by major classes of capital assets, such as: land, buildings, improvements other than buildings, and equipment. These capital assets are then separated between capital assets associated with governmental activities and business-type activities.
Disclosures must be made of the beginning balances, capital acquisitions, sales and other dispositions, ending balances, and current period depreciation.
Significant disclosures regarding capital assets are required according to GASB statement 34. In the notes of the financial statements, these disclosures should be by major classes of capital assets, such as: land, buildings, improvements other than buildings, and equipment. These capital assets are then separated between capital assets associated with governmental activities and business-type activities.
ReplyDeleteDisclosures must be made of the beginning balances, capital acquisitions, sales and other dispositions, ending balances, and current period depreciation.
ReplyDelete