GASB 34 & 35 Depreciation Issues Resolution Memoranda and Other Documents

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GASB 34 & 35 Depreciation Issues Resolution Memoranda and Other Documents

  • FY 2004-2005 Depreciation Closing Schedule (Issued: December 9, 2004)
  • GASB Depreciation Implementation Task List Through FY 2001-2002 fiscal close (Revised: October 22, 2002)
  • GASB Depreciation Listserv Archives - FAQ
  • IRM No 1: Consistency in Calculation Methodology - Depreciation of Buildings
    • IRM No 1: Original IRM No 1 - Description of depreciation Methods 1 through 5 (Issued: March 16, 2000)
    • IRM No 1A: Addendum A to IRM No 1 - Clarification of default useful lives, additional requirements for adopting Method 3, and initial definition of laboratory buildings (Issued: April 14, 2000)
    • IRM No 1B: Addendum B to IRM No 1 - Description of optional treatment of non-laboratory buildings with shorter than average useful lives, further refinement of Method 3, clarification on changing from one method to another, refinement of laboratory buildings definition (Issued: May 25, 2000)
    • IRM No 1C: Addendum C to IRM No 1 - Description of critical elements campuses must consider before selecting a depreciation method and review of the costing allocation algorithm (Issued: June 19, 2000)
    • IRM No 1D: Addendum D to IRM No 1 - Revised definition of laboratory buildings, including updated Room Use and Program Codes tables (Issued: August 24, 2000)
    • IRM No 1E: Addendum E to IRM No 1 (with attachments) - Definition of laboratory buildings based on Room Use and Program Codes tables (all campuses and campus-specific), as well as additional clarifications regarding building depreciation issues. Attachments have been included. (Issued: December 7, 2000)
      • Update to IRM1E: The program and facility departments codes used to establish Lab Buildings at campuses were reviewed and updated June 17, 2008. The updated definition will be used to establish Lab Buildings beginning in FY 2008-2009.
    • IRM No 1F: Addendum F to IRM No 1 - Final default useful lives (Issued: August 5, 2002)
    • IRM No 1G: Addendum G to IRM No 1 - Process for adding or deleting campus-specific Room Use Codes or Program Codes to define laboratory space and buildings (Issued: December 19, 2007)
  • IRM No 2: Data Quality and Reconciliation Issues (Revised: January 23, 2003)
    • The IRM was re-issued January 23, 2003 to change the submission dates for the asset files and reconciliation worksheets. Exhibits 1 and 2 were updated to include the worksheets provided to the campuses for the 12/31/02 reconciliation of the asset files to the general ledger.
  • IRM No 3: Establishing the Balance of Accumulated Depreciation at June 30, 2000
    • IRM No 3: Original IRM No 3 - Description of the process to establish accumulated depreciation balance (Issued: April 14, 2000)
    • IRM No 3A: Addendum A to IRM No 3 - Description of additional requirements and options for campus submission of building specific historical data (Issued: May 25, 2000)
  • IRM No 4: Procedures for Recording Gains and Losses on Disposal of Assets
    • IRM No 4: Original IRM No 4 - Requirement to establish the net book value of assets and recognize gains or losses up the disposal of capital assets (Revised: October 25, 2001)
    • IRM No 4A: Addendum A to IRM No 4 - Description of the year-end adjustment for the half-year convention (Issued: November 5, 2002)
  • IRM No 5: Half-Year Conventions
    • IRM No 5: Original IRM No 5 - Original description of half-year convention procedures (Issued: May 8, 2000)
    • IRM No 5A: Addendum A to IRM No 5 - Updated approach to half-year convention to reflect changes/discussions since July 2000 (Revised: January 23, 2003)
      • The IRM was updated January 23, 2003 to change the submission dates for the asset files and reconciliation worksheets.
  • IRM No 6: Approach to Library Materials
    • IRM No 6: Original IRM No 6 - Requirement to capitalize and depreciate library materials (Issued: May 31, 2000)
    • IRM No 6A: Addendum A to IRM No 6 - Description of treatment for rare, museum type library materials and collections (Issued: June 19, 2000)
    • IRM No 6B: Addendum B to IRM No 6 - Clarification of the reasons for capitalizing and depreciating library collections, description of the relationship to Risk Management, and description of the process to define rare library materials and collections (Revised: January 23, 2003)
      • The IRM was updated January 23, 2003 to correct the Account Group Code for rare library materials and collections.
    • IRM No 6C: Addendum C to IRM No 6 - Describes the procedures to segregate capitalized library expenditures into "general" and "rare" categories (Issued: October 27, 2000)
  • IRM No 7: Approach to Special Collections (Art, Museum, Scientific)
    • IRM No 7: Original IRM No 7 - Requirement to capitalize, but not depreciate special collections (Issued: May 8, 2000)
    • IRM No 7A: Addendum A to IRM No 7 - Guidance on the treatment of known and material items of special collections that were expensed in previous years (Issued: July 14, 2000)
  • IRM No 8: Approach to Infrastructure Assets and General Improvements
    • IRM No 8: Original IRM No 8 - Description of approach to Infrastructure Assets and General Improvements (Issued: May 26, 2000)
    • IRM No 8A: Addendum A to IRM No 8 - Proposed definition of Infrastructure Assets and proposed approach for treatment of General Improvements (Issued: August 24, 2000)
    • IRM No 8B: Addendum B to IRM No 8 - Revised definition of Infrastructure Assets and revised approach for treatment of General Improvements (Revised: January 23, 2003)
      • The IRM was updated January 23, 2003 to correct the Account Group Codes for Buildings & Structures (campus and medical center).
  • IRM No 9: GASB 35 Depreciation Reporting Implementation Timeline (Revised: April 17, 2002)
  • IRM No 10: Establishing Capitalization Thresholds for Additions and Modifications to Buildings & Structures, General Improvements and Infrastructure Assets
    • IRM No 10: Original IRM No 10 - Establishing capitalization thresholds (Issued: July 13, 2000)
    • IRM No 10A: Addendum A to IRM No 10 - Proposed capitalization thresholds for campuses and medical centers (Issued: August 24, 2000)
    • IRM No 10B: Addendum B to IRM No 10 - Revised capitalization thresholds for campuses and medical centers (Issued: October 27, 2000)
  • IRM No 11: Approach to Software (Removed: February 9, 2010)
    • IRM No. 11 was removed. The approach to software outlined in IRM No. 11 was superseded by the approach outlined in IRM 51.2
  • IRM No 12: Specifications for Electronic Files Required by UCOP
  • IRM No 13: Changing the Equipment Threshold--DISCUSSION DEFERRED
  • IRM No 14: Recording Buildings & Structures Values by Three Basic Components (Issued: July 13, 2000)
  • IRM No 15: Accounting Procedures to Eliminate Capital Expenditures from Current Fund Expenditures and to Record Annual Depreciation Expense and Accumulated Depreciation
    • IRM No 15: Original IRM No 15 (Revised: March 31, 2003)
      • The IRM was updated March 31, 2003 to reflect the change in the University's approach to capital equipment, i.e., the amount to be reversed in Current Funds should be University-owned capital equipment, as well as non-University-owned capital equipment purchased with federal funds only.
    • IRM No 15A: Addendum A to IRM No 15 - Renewals and Replacements Closing Procedures (Revised: July 3, 2003)
      • The IRM was updated March 31, 2003 to add new object codes for use with Renewals and Replacements funds when closing out expenditures. The IRM was updated again on July 3, 2003 to correct a typo for the object codes for the entry for non-capitalized expenditures.
  • IRM No 16: University Useful Lives

    Equipment Useful Life Tables -- Revised to reflect current 1998 AHA Schedule of Lives (Date Issued: October 31, 2000)

  • IRM No 17: Approach to Depreciating Equipment
    • IRM No 17: Original IRM No 17 (Issued: December 22, 2000)
    • IRM No 17A: Addendum A to IRM No 17 - Approach to Non-Inventorial Equipment at Medical Centers (Revised: April 7, 2003)
      • The IRM was updated to clarify the approach to non-inventorial equipment at the medical centers, including modifying the composite useful life used in the depreciation system for non-inventorial equipment from 5 years to 15 years.
    • IRM No 17B: Addendum B to IRM No 17 - Approach to Non-University-Owned Equipment and University-Owned Equipment at DOE Laboratories (Revised: November 5, 2002)
    • IRM No 17C: Addendum C to IRM No 17 - Approach to Non-University-Owned Equipment (Revised: February 3, 2004)
      • This IRM modifies the University's approach to non-University-owned equipment originally outlined in IRM 17B. Beginning January 1, 2003, the University will capitalize only non-University-owned equipment purchased with federal funds, as well as equipment on loan from federal sources.
  • IRM No 18: Approach to Intangible Assets (formerly recorded as Improvements Authorized) (Issued: December 21, 2000)
  • IRM No 19: Approach to Incorporating University Depreciation into F&A Cost Rate Proposals (Issued: March 6, 2002)
  • IRM No 20: Approach to Recharge Centers (Issued: October 31, 2000)
  • IRM No 21: Approach to Leasehold Improvements (Issued: December 21, 2000)
  • IRM No 22: Summary of Accounting/Journal Entries for Recording the Depreciation of Capital Assets (Revised: January 31, 2003)
    • This IRM was issued in final format January 31, 2003. Changes/updates were made to the IRM, Attachments 1 and 2, and to all the exhibits.