|Activity:||Furniture - Movable Capital Equipment|
|Policy:||CSOP 8.0 Capitalization of Movable Equipment|
Capital Movable Asset Physical Inventories, Tagging and Location Changes, FIN-ACC-170
Ownership, Depreciation and Capitalization of University Assets, FIN-ACC-150
Furniture Purchases, FIN-PURCH-08
|Things To Know:||Equipment is defined as personal, tangible property. Equipment with an acquisition value of $5,000.00 or more and a normal life expectancy of greater than one year is defined as capital equipment.|
Go to Furniture Purchasing for procedures and how to place an order. To properly capitalize equipment the correct object code must be used on the purchase order and other financial transactions.
See list of Object Codes (look for General Expenses: Supplies and Equipment).
If you have questions, please contact Purchasing Contract Managers and look for "Furniture (Purchase, Rental, Repairs & Refinishing)".
Training: FMS Capital Assets Video Tutorials