[CAFR-Contacts-News] OAM 15.60.10 Capital Assets Classification and Capitalization Out-for-Comment

[HAMILTON Robert W * DAS]

Hello CAFR Contacts,

OAM 15.60.10 Capital Assets: Classification and Capitalization has been updated and placed out-for-comment on our website (http://www.oregon.gov/das/Financial/Acctng/Pages/OAM.aspx).

As we've done recently, we've included two versions, one with track changes and one without.

Changes are primarily centered around GASB Statement No. 72, which changed the valuation of donated capital assets from fair market value to acquisition value.  This is mostly a nuance, as acquisition value is an entry price (to buy something) while fair market value is an exit price (to sell something), however, we wanted to update the OAM for the standard change.  Other changes are necessary to reflect terminology, such as statement of net position replacing the statement of net assets.

Please direct any comments to me by close of business on Wednesday, July 26.

Thank you,

Rob

Robert W. Hamilton, CPA
Statewide Accounting and Reporting Services Manager
Chief Financial Office
Department of Administrative Services
Phone:  (503) 373-0299
http://www.oregon.gov/DAS/financial/acctng

Data Classification: Level 1 - Published

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