ASTM E2135-2010a Standard Terminology for Property and Asset Management《财产和资产管理标准术语》.pdf

《ASTM E2135-2010a Standard Terminology for Property and Asset Management《财产和资产管理标准术语》.pdf》由会员分享，可在线阅读，更多相关《ASTM E2135-2010a Standard Terminology for Property and Asset Management《财产和资产管理标准术语》.pdf（12页珍藏版）》请在麦多课文档分享上搜索。

1、Designation: E2135 10aStandard Terminology forProperty and Asset Management1This standard is issued under the fixed designation E2135; the number immediately following the designation indicates the year oforiginal adoption or, in the case of revision, the year of last revision. A number in parenthes

2、es indicates the year of last reapproval. Asuperscript epsilon () indicates an editorial change since the last revision or reapproval.1. Scope1.1 This terminology covers traditional property manage-ment definitions and some of the terms introduced in additionalasset management standards that are use

3、d most often andconsidered most important. As new standards are developed,new terms will be added to this terminology in future revisions.2. Referenced Documents2.1 ASTM Standards:2E2221 Practice for Administrative Control of PropertyE2306 Practice for Utilization and Disposal of PersonalPropertyE24

4、52 Practice for Equipment Management Process Matu-rity (EMPM) ModelE2453 Practice for Determining the Life-Cycle Cost ofOwnership of Personal PropertyE2495 Practice for Prioritizing Asset Resources in Acquisi-tion, Utilization, and DispositionE2606 Practice for Receipt Notification as a Result ofTan

5、gible Property MovementE2607 Practice for Cannibalization/Reclamation of Ser-viceable Equipment Components to Support Demand Re-quirementsE2608 Practice for Equipment Control Matrix (ECM)E2674 Practice for Assessment of Impact of Mobile DataStorage Device (MDSD) LossE2675 Practice for Property Manag

6、ement System Out-comes3. Terminology3.1 Terms and Definitions:abandoned property, nproperty of any type over which therightful owner has relinquished possession and any claim ofan ownership interest.abandon, vto give up all and any future claim to rights orinterest in property.abatement, na reductio

7、n or cancellation of an assessed tax.ABC method, ninventory management method that catego-rizes items in terms of importance. Thus, more emphasis isplaced on higher dollar value items (“A”s) than on lesserdollar value items (“B”s), while the least important items(“C”s) receive the least time and att

8、ention. Inventory shouldbe analyzed frequently when using the ABC method. Theprocedure for ABC analysis follows: (1) Separate finishedgoods into types (chairs of different models, and so on);separate raw materials into types (screws, nuts, and so on).(2) Calculate the annual dollar usage for each ty

9、pe ofinventory (multiply the unit cost by the expected futureannual usage). (3) Rank each inventory type from highest tolowest, based on annual dollar usage. (4) Classify theinventory as Athe top 20 %; Bthe next 30 %; andCthe last 50 % of dollars usage, respectively. (5) Tag theinventory with its ap

10、propriate ABC classification and recordthose classifications in the item inventory master records.abnormal spoilage, nfor government accounting under theFAR, abnormal spoilage may or may not be allowable cost.If the cost is deemed allowable, the cost would normally becharged consistently with normal

11、 spoilage.accelerated cost recovery system (ACRS), nsystem ofdepreciation for tax purposes mandated by the EconomicRecovery Act (ERA) of 1981 and modified by the TaxReform Act of 1986. The type of property determines itsclass. Instead of providing statutory tables, prescribed meth-ods of depreciatio

12、n are assigned to each class of property.For 3, 5, 7, and 10-year classed, the relevant depreciationmethod is the 200 % declining balance method. For 15 and20-year property, the appropriate method is the 150 %declining balance method switching to the straight-linemethod when it will yield a larger a

13、llowance. For residentialrental property (27.5 years) and nonresidential real property(31.5 years), the applicable method is the straight-linemethod. A taxpayer may make an irrevocable election to1This terminology is under the jurisdiction of Committee E53 on PropertyManagement Systems and is the di

14、rect responsibility of Subcommittee E53.06 onTerminology.Current edition approved Oct. 15, 2010. Published November 2010. Originallyapproved in 2001. Last previous edition approved in 2010 as E2135 10. DOI:10.1520/E2135-10A.2For referenced ASTM standards, visit the ASTM website, www.astm.org, orcont

15、act ASTM Customer Service at serviceastm.org. For Annual Book of ASTMStandards volume information, refer to the standards Document Summary page onthe ASTM website.1Copyright ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959, United States.treat all property in

16、one of the classes under the straight-linemethod. Property is statutorily placed in one of the classes.The purpose of ACRS is to encourage more capital invest-ment by businesses. It permits a faster recovery of the assetscost and thus provides larger tax benefits in the earlier years.See also modifi

17、ed accelerated cost recovery systems(MACRS).accelerated depreciation, nany method of calculating de-preciation charges where the charges become progressivelysmaller each periodaccessory item, nan item that facilitates or enhances theoperation of equipment but is not essential for its basicoperation.

18、accountability, nindividual or departmental responsibility toperform a certain function. Accountability may be dictatedor implied by law, regulation, or agreement. For example, anauditor will be held accountable to financial statement usersrelying on the audited financial statements for failure toun

19、cover corporate fraud because of negligence in applyinggenerally accepted auditing standards (GAAS).accounting change, nchange in: (1) accounting principles(such as a new depreciation method); (2) accounting esti-mates (such as a revised projection of doubtful accountsreceivable); or (3) the reporti

20、ng entity (such as a merger ofcompanies). When an accounting change is made, appropri-ate footnote disclosure is required to explain its justificationand financial effect, thereby enabling readers to makeappropriate investment and credit judgments. Proper justifi-cation for a change in accounting pr

21、inciples may be theissuance of a new FASB pronouncement, SEC AccountingSeries Release (ASR), or IRS regulation. Changes in esti-mates are justified by changing circumstances such as agreater degree of wear and tear of a fixed asset thanoriginally anticipated. Generally, the consistent use of ac-coun

22、ting principles and procedures is essential in appraisingand entitys activities and in the projection of future results;however, changes in the reporting entity have to be retroac-tively reflected for comparative purposes.accretion, nincrease in economic worth through physicalchange, usually said of

23、 a natural resource such as an orchard,caused by natural growth. Contrast with appreciation.accumulated depreciation, nsum of depreciation chargestaken to date on a fixed asset.Accumulated depreciation is acontra account to the fixed asset to arrive at book value. Forexample, on 1/1/2000 an auto is

24、bought costing $10 000,with a salvage value of $1000 and a life of 10 years. Usingstraight-line depreciation, the accumulated depreciation on12/31/2003 would be $3600 ($900 3 4).acquisition, nhardware, supplies or services through pur-chase, lease, or other means, including transfer or fabrica-tion,

25、 whether the supplies or services are already in existenceor must be created, developed, demonstrated, and evaluated.E2607activity-based depreciation, nproduction method of depre-ciation.actual cash value, nthe cost of replacing damaged propertywith other property of like kind and quality in the phy

26、sicalcondition of the property immediately before the damage.actual cost, nan amount determined on the basis of costincurred including standard cost properly adjusted for appli-cable variance.adjusted basis, nthe basis used to compute gain or loss ondisposition of an asset for tax purposes. Also, se

27、e bookvalue.administratively controlled property, nthe property assetsthat are controlled at the discretion of asset managersmanaging the inventories of individual operational units.E2221ad valorem taxlevy imposed on the value of property. Themost common ad valorem tax is that imposed by states,coun

28、ties, and cities on real estate. Ad valorem taxes can,however, be imposed on personal property.agency-peculiar property, nas used in DoD, means militaryproperty and includes end items and integral components ofmilitary weapons systems, along with the related peculiarsupport equipment which is not re

29、adily available as acommercial item.allocate, vto assign an item of cost, or a group of items ofcost, to one or more cost objectives. This term includes bothdirect assignment of cost and the reassignment of a sharefrom an indirect cost pool.amortization, ngradual reduction of an amount over time.Exa

30、mples are amortized expenses on intangible assets anddeferred charges. Assets with limited life have to be writtendown over the period benefited. For example, all intangibleassets must be amortized using the straight-line method notexceeding 40 years; the amortization entry in that case is todebit a

31、mortization expense and credit the intangible asset.amortization, nthe gradual extinguishment of any amountover a period of time through a systematic allocation of theamount over a number of consecutive accounting periodssuch as the retirement of a debt by serial payments to asinking fund.amortizati

32、on, nnormally applies to intangibles whereasdepreciation applies to tangible assets.amortize, vto write off a regular portion of an assets costover a fixed period of time. Examples are amortizationexpense on an intangible asset and depletion expense on anatural resource. See also sales return.analyt

33、ical hierarchy process (AHP), ndecision-makingmodel that reduces complex decisions to one on one com-parisons resulting in the ranking of a list of objectives oralternatives. E2495appraisal, nthe process of obtaining a valuation for an assetor liability that involves expert opinion rather than expli

34、citmarket transaction.appraisal method of depreciation, nthe periodic deprecia-tion charge is the difference between the beginning andend-of-period appraised value of the asset if that differenceis positive. If negative, there is no charge. Not generallyaccepted.appreciation, nincrease in the value

35、of an asset. The assetmay be real estate or a security. For example, an individualsold 100 shares of XYZ companys stock for $105 per sharethat he bought 10 years ago for $25 per share. The amountof appreciation was $8000 = ($105 $25) 3 100 shares.E2135 10a2assembly, na number of parts or subassembli

36、es joinedtogether.assessed valuation, na dollar amount for real estate or otherproperty used by a government as a basis for levying taxes.The amount may or may not bear some relation to marketvalue.assessed value, nvalue established by a government for realestate or other property as a basis for lev

37、ying taxes. Forexample, an individual receives a statement that, in thejudgment of the local tax assessor, the individuals propertyis worth $50 000. If by law, properties in this jurisdiction areassessed at 80 % of market value, the individuals assessedvalue then is $40 000 (80 % of $50 000) and pro

38、perty taxeswill be based on this assessed value.asset, n(1) anything owned having monetary value; (2)tangible or intangible items owned by an entity that haveprobable economic benefits that can be obtained or con-trolled by the entity.asset accountability unit, na tangible capital asset which isa co

39、mponent of plant and equipment that is capitalized whenacquired or whose replacement is capitalized when the unitis removed, transferred, sold, abandoned, demolished, orotherwise disposed of.asset priority index (API), nnumerical value assigned to anasset reflecting its value to an entitys mission o

40、r othercritical assignments as defined by the criteria set forth bymanagement. E2495average age of inventory, nnumber of days an averageinventory item takes to sell: For example, assume thataverage inventory is $47 500 and cost of goods sold is$500 000. The average age of inventory is ($47 500/$500

41、000) 3 365 days = 34.7 days. See also days to sellinventory. Average Inventory divided by Average Age ofInventory = Cost of Goods Sold 3 365 days.average inventory, namount equaling about half maximuminventory when demand is relatively constant. For example,if the maximum inventory is 500 units and

42、depletion occursat a fairly constant rate, the average inventory equals 250units (500/2).average life, nestimated useful-life expectancy of a depre-ciable group of assets. See also depreciation; economic life;useful life.bailment, ncontractual transfer of dollars or personal prop-erty for a specifie

43、d objective.An example is the consignmentof goods from the consignor to consignee. Another exampleis a bank holding an asset of a borrower as collateral. In abailment, the deliverer is called the bailor and the receiver istermed the bailee.bargain purchase, nasset or goods acquired for materiallyles

44、s than fair market value. For example, a buyer may beable to get a bargain price on furniture from a seller in aliquidation situation.bargain purchase option, na provision allowing the lesseethe option of purchasing the leased property for an amount,exclusive of lease payments, which is sufficiently

45、 lower thanthe expected fair value of the property at the date the optionbecome exercisable. Exercise of the option must appearreasonably assured at the inception of the lease. GAAP doesnot offer additional guidance defining “sufficiently lower,” inwhich many factors such as time value of money, usa

46、ge, andtechnological changes influence whether the option fulfillsthe criteria for a bargain.bargain renewal option, na provision allowing the lesseethe option to renew the lease agreement for a rental paymentsufficiently lower than the expected fair rental of theproperty at the date the option beco

47、mes exercisable. Exerciseof the option must appear reasonably assured at the inceptionof the lease.basic research, nresearch directed toward increasing knowl-edge in science. The primary aim of basic research is a fullerknowledge or understanding of the subject under study,rather than any practical

48、application of that knowledge.basis, nacquisition cost, or some substitute therefore of anasset used in computing gain or loss on disposition orretirement.bench stock, nlow cost, high usage, non-sensitive consum-able material issued to work areas. Quantities of such stockdo not normally exceed an am

49、ount that would normally beconsumed within a 30-day period or as established in theproperty control system.betterment, nan expenditure having the effect of extendingthe useful life of an existing asset, increasing its normal rateof output, lowering its operating cost, increasing rather thanmerely maintaining its efficiency or otherwise adding to theworth of benefits it can yield. A betterment is distinguishedfrom repair or maintenance in that the latter have the effectof merely keeping the asset in its customary state ofopera