Furniture - Movable Capital Equipment

Activity: Furniture - Movable Capital Equipment
Financial Policy:

FIN-ACC-I-150, Capitalization of Movable Equipment

Related Policies:

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
CSOP 8.0, Capitalization of Moveable Equipment

Additional Forms: N/A

Things to Know:

  • Equipment is defined as personal, tangible property. Equipment with an acquisition value of $5,000.00 or more and a normal life expectancy of greater than one year is defined as capital equipment.
  • Go to Furniture Purchasing for procedures and how to place an order. To properly capitalize equipment the correct object code must be used on the purchase order and other financial transactions.
  • See list of Object Codes (look for General Expenses: Supplies and Equipment).

If you have questions, please contact Purchasing Contract Managers and look for "Furniture (Purchase, Rental, Repairs & Refinishing)".

Training: FMS Capital Assets Video Tutorials