Chapter 13 – Asset Management

… STATE OF DELAWARE BUDGET AND ACCOUNTING POLICY Office of Management and Budget Asset Management Chapter 13 – Asset Management v.9.5 Page 1 of 31 …

… egation of Responsibilities for Asset Management ............................................... 2 13.2.1 Division of Accounting’s Asset Management Responsibilities.................................... 2 13.2.2 Organization Asset Management Respon …

… Impairment ................................................................................................ 24 13.9.3 Accounting for Impairments ....................................................................................... 25 13.10 Work …

… IP) ............................................................................ 29 STATE OF DELAWARE BUDGET AND ACCOUNTING POLICY Office of Management and Budget Asset Management Chapter 13 – Asset Management v.9.5 Page 2 of 31 …

… assets have initial useful lives that extend beyond a single reporting period. The States financial management and accounting system’s Asset Management (AM) module is used to improve financial reporting, accountability, and operational efficie …

… e capital assets, The State maintains its capital asset management system in accordance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board’s (GASB) Statement No. 34, Basic Financial Statements a …

… s capital asset management system in accordance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board’s (GASB) Statement No. 34, Basic Financial Statements and Management’s Discussion and Analysis for …

… and long term capital planning. 13.2 Segregation of Responsibilities for Asset Management The Division of Accounting (DOA) is responsible for managing capitalized assets in the State’s financial management and accounting system. Indiv …