|Activity:||Movable Capital Equipment|
|Policy:||Ownership, Depreciation and Capitalization of University Assets. FIN-ACC-150|
Capital Movable Asset Physical Inventories, Tagging and Location Change, FIN-ACC-170
|Things To Know:||Equipment is defined as personal, tangible property. Equipment with an acquisition value of $5,000 or more and a normal life expectancy of greater than one year is defined as capital equipment.|
The acquisition value of movable capital equipment include the university's cost of equipment and all additional costs necessary to place an asset in its intended location and condition for use.
For further details on capitalization definitions, policies and procedures, see FMS Capital Assets CSOP 8.0 Capitalization of Moveable Equipment.
To properly capitalize equipment correct Object Codes must be used on the purchase order.