Equipment - BC*

Activity: Equipment - BC*
Financial Policy: FIN-ACC-I-140, Off-Premise Capital Equipment Control
Related Policies: FIN-ACC-I-150, Capitalization of Movable Equipment
FIN-ACC-I-170, Capital Movable Asset Physical Inventories, Tagging and Location Changes
FIN-ACC-I-180, Depreciation of Capital Assets
FIN-ACC-I-270, Ownership of University Capital Assets
III-70, Equipment Transfers (equipment purchased from contract and grant funds)
Additional Forms: Please email capasset@iu.edu for guidance.
Things to Know: ALL FUND GROUPS

Capital equipment purchases are equipment items with an acquisition value of at least $5,000.00 and a useful life of one year or greater. For equipment meeting these capitalization criteria use the following object codes:

7000    Capital Equipment
7015    Computer Equipment

Other costs such as installation, freight/shipping, and training should also be capitalized with equipment purchases over $5,000. If the equipment purchased meets the capitalization criteria, then these costs should also be coded to object code 7000 or 7015.

Warranties, maintenance agreements and software licenses should NEVER be capitalized with equipment. These purchases should always be expensed to object codes 4776 or 4616.

Please refer to Standard Operating Procedure CSOP 8.0 Capitalization of Movable Equipment for detailed guidelines relating to the capitalization of moveable equipment and object code assignment: https://fms.iu.edu/capital-assets/capital-asset-standard-operating-procedures/csop-80-capitalization-moveable-equipment/

See FMS Capital Asset Management System Website as well as FMS Capital Standard Operating Procedures (CSOP) for more resources.

If you have any questions, please email capasset@iu.edu.

Training: FMS CAMS Video Tutorials

*BC - Budget Construction