Expenditure Accounts - Property, Plant and Equipment
| Definition: |
This
account class includes payments for acquiring legal ownership to real property,
to construct additions to buildings, and to furnish buildings with equipment,
furniture, furnishings and machinery. Equipment should possess both
of the following characteristics: it is not consumable or expendable
and has an expected useful life of longer than one year. This property
may require entry into the fixed asset system if the capitalization criteria
are met. |