Assets

Learn about the University's asset management principles and how to sustain local assets following simple guidelines.

Accounting for assets basics

The Australian National University Act section 45 requires that '... the Council must do all things necessary to ensure that adequate control is...

Artworks and artifacts basics

Artworks and artifacts comprise the following categories: Artworks at Cost – Account 3167 Artworks at Valuation  – Account 3159 Artworks are...

Frequently asked questions

In relation to plant and equipment only Any questions with regard to land, buildings, infrastructure or the rare library collection should be...

Land, buildings and infrastructure basics

Land, buildings and infrastructure comprise the following categories: Land at cost – account 3300 Land at valuation – account 3302...

Non current asset categories basics

University asset classes: Land, buildings and infrastructure – land, campus buildings, dwellings and site infrastructure. Maintained by separate...

Non-capital portable and attractive items

What items <$5,000 should be recorded on the ESP Assets Management System (AMS) under the non-capital book?  Things like digital cameras,...

Non-current assets held at deemed cost

Prior to 1/1/2005, all classes of assets were revalued periodically in accordance with AASB. With the transition to new international standards -...

Numbering of floors and rooms in new buildings

These guidelines are primarily intended for new buildings.  However they may also be applied to existing buildings undergoing major refurbishment...

Physical location codes basics

A naming protocol is in place with regard to physical location codes. The format of the asset management location codes will be: <precinct>...

Plant, equipment and motor vehicles basics

Plant, equipment and motor vehicles (PEMV) comprise the following categories: Office Equipment – Account 3102 Research Equipment – Account 3105...

Property, plant and equipment - acquisition principles

The Australian National University Act section 45 requires that '... the Council must do all things necessary to ensure that adequate control is...

Property, plant and equipment - capitalisation principles

Definitions and profiles Assets Assets are defined as service potential or future economic benefits controlled by an entity as a result of past...

Property, plant and equipment - depreciation principles

Overview of depreciation Depreciation is a process of allocation whereby the accumulated historical cost of an item of plant and equipment is...

Property, plant and equipment - disposal principles

Overview of the disposal process The Australian National University Act (1991) section 45 requires that '... the Council must do all things necessary...

Property, plant and equipment - revaluation principles

Asset revaluation process Revaluation means the act of recognising a reassessment of the carrying amount of a non-current asset to its fair value as...

Property, plant and equipment - stocktake principles

Objective The Australian National University Act 1991 requires the Council to ensure that adequate control is maintained over the assets of, or in...

Property, plant and equipment - transfer of assets principles

Overview of steps involved in transferring assets An asset transfer is a movement of an item of plant and equipment from one fund/department to...

Purchase delegation basics

The staff member generating a purchase of an item is the source of the most useful and relevant information in determining the correct processing of...

Rare library collection basics

The Rare Library Collection comprises the following categories: Rare Library at Valuation – Account 3170 All books are expensed in the first...