.
CHAPTER 4.1.5
GAAP ADJUSTMENTS AND RECLASSIFICATION ENTRIES
ASSETS: CAPITAL ASSETS, DEPRECIATION AND AMORTIZATION
1
GAAP POLICIES AND PROCEDURES
Capital assets are stated at cost or estimated historical cost, if purchased, or if donated, at
estimated fair value at date of donation. Capital assets, including infrastructure and intangible
assets, with an original value of $5,000 or more and with a useful life of one year or more, are
capitalized. Such cost includes, where applicable, interest capitalized as part of the cost of
constructed capital assets. Title to all assets, whether purchased, constructed, or donated is held
by the State. Although the title is not with the University for land and buildings, the University
has exclusive use of these assets and is responsible for the maintenance of these assets and thus
has recorded the cost of these assets in the accompanying financial statements. Capital assets,
with the exception of land and land improvements, works of arts and historical treasures,
construction work in progress, and certain intangible assets, are depreciated or amortized on a
straight-line basis over their estimated useful lives, which ranges from 3 to 45 years. Library
books, unless considered rare collections, are capitalized and depreciated over a 10-year
period. Periodicals and subscriptions are expensed as purchased. Works of art and historical
treasures are valued at cost, if purchased, or the fair market value at the date of donation, if
contributed. The costs of normal maintenance and repairs that do not add to the value of the
asset or materially extend its life are expensed as incurred.
Depreciation and amortization expense is shown separately in the Statement of Revenues,
Expenses and Changes in Net Position rather than being allocated among other categories of
operating expenses.
2
RELEVANT ACCOUNTING LITERATURE
GASB Statement No. 34, Basic Financial Statements – and Management’s Discussion and
Analysis – for State and Local Governments
GASB Statement No. 37 Basic Financial Statements – and Management’s Discussion and
Analysis – for State and Local Governments: Omnibus – an amendment of GASB Statements
No. 21 and No. 34
GASB Statement No. 42 Accounting and Financial Reporting for Impairment of Capital Assets
and for Insurance Recoveries
GASB Statement No. 51 Accounting and Financial Reporting for Intangible Assets
4.01.5-1
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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GASB Statement No. 62 Codification of Accounting and Financial Reporting Guidance
Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements
3
OBJECTIVES OF GAAP ADJUSTMENTS
The objectives of the GAAP adjustments (through Asset Management module or manual
GAAP entries) necessary at June 30th related to capital assets, depreciation/ amortization are:
 To record capital asset additions not recognized in legal basis accounting.
 To record capital asset disposal/retirement.
 To record depreciation/amortization of the capital assets.
 To capitalize interest expense that meets certain criteria.
 To capitalize pollution remediation obligation expenditures as part of the cost of a capital
asset when it meets certain criteria.
 To recognize capital asset impairment in the accounting books.
4
GAAP ACCOUNTING T REATMENT AND JOURNAL ENTRIES
4.1 RELEVANT GAAP ACCOUNTS
711207 – Capital assets, net
713811 – Net investment in capital assets
722005 – Depreciation
The campus must record the cost of all capital assets that it owns. This includes the cost of all
qualified library materials and all capital assets that meet the definition of “infrastructure”
(effective FY2001-2002) or “intangible assets” (effective FY2009-2010). Campuses are also
required to capitalize the costs incurred by the Office of the Chancellor (CO) related to
construction projects managed on behalf of the campuses by the CO. These costs are provided
to the campuses via annual Accounting Department Notice of Accounting Transactions
(ADNOAT) from the CO.
See Chapter 13 Capital Assets Guide, for detailed information on establishing useful lives,
asset category definitions, capitalization thresholds, and methods for depreciation/
amortization, guidelines for leasehold improvements and construction work in progress as well
as impairment of capital assets.
The Integrated CSU Administrative Manual (ICSUAM) Policy 3150.01, Administration of
University Property, Section 600 states that all campus fixed asset accounting entries will be
recorded in State Fund 0997, CSU Fund 501, General Fixed Assets Memo Fund.
The PeopleSoft Asset Management module is used to track capital assets. As the campus enters
relevant information in the Asset Management module, the journal entry creation to the CSU
Fund 501 for both legal reporting requirement and the reclassification entries required in
4.01.5-2
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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GAAP are automated through the usage of the accounting entry templates and the derivation
from campus to xxCSU to xxGAP business unit.
4.2 CURRENT YEAR ADDITIONS
The expenditures made by the campus for capital assets during the current year
(acquisition cost of at least $5,000) are recorded in the legal accounting books when paid.
The entries related to capital asset additions are as follows:
Derived GAAP Entry –in the fund financing the purchase
Account
722004
711102
Journal
Description
Class
(CSU
Fund)
Fund
(Net Position)
Account Name
Program
Amount
Supplies
and
other
881-Unrestricted
07
532
$xxx
services
Short-term investment
881-Unrestricted
90
532
($xxx)
Accounting records derived from legal for recording the payment for the acquisition of
capital asset.
Derived GAAP Entry –if the capital asset is acquired by donation
Account
722004
711102
Journal
Description
Class
(CSU
Fund)
Fund
(Net Position)
Account Name
Program
Amount
Supplies
and
other
881-Unrestricted
07
550
$xxx
services
Grants and gifts, capital
881-Unrestricted
50
550
($xxx)
Accounting records derived from legal for recording the acquisition of capital assets through
donation.
Derived Asset Management automated Legal Memo Journal Entry in CSU Fund 501
Account
Account Name
711207
Capital assets, net
713811
Net investment in capital
assets
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
90
501
$xxx
90
501
($xxx)
Amount
In order to eliminate the double counting of the cost or carrying value of an acquired,
constructed, or donated capital asset, Asset Management will generate an elimination
entry by reflecting the transaction as a transfer of resources between net position
categories.
4.01.5-3
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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Asset Management Automated GAAP Entry
Account
713811
724004
Account
724004
722004
Program
Class
(CSU
Fund)
90
501
$xxx
13
501
($xxx)
Program
Class
(CSU
Fund)
881-Unrestricted
13
532
$xxx
881-Unrestricted
07
532
($xxx)
Fund
(Net Position)
811-Net investment in
capital assets
811-Net Investment in
Capital Assets
Account Name
Net investment in capital
assets
Transfers to/from other
CSU campuses, net
Account Name
Transfers to/from other CSU
campuses, net
Supplies and other services
Fund
(Net Position)
Amount
Amount
CWIP Additions
Construction work in progress (CWIP) is not included and is being tracked outside of the
Asset Management module. Entries to CWIP are initially recorded in the legal memo
journal entry in CSU Fund 501 and a GAAP manual adjustment is made to reverse the
credit to Net Investment in capital asset.
Derived GAAP Entry –in the fund financing the purchase
Account
722004
711102
Journal
Description
Class
(CSU
Fund)
Fund
(Net Position)
Account Name
Program
Amount
Supplies
and
other
881-Unrestricted
07
221
$xxx
services
Short-term investment
881-Unrestricted
90
221
($xxx)
Accounting records derived from legal for recording the payment for the acquisition of
capital asset.
Derived GAAP Entry – in CSU fund 501
Account
711207*
713811
Journal
Description
Account Name
Capital assets, net
Net investment in capital
assets
Fund
(Net Position)
811-Net investment
capital assets
811-Net investment
capital assets
Program
in
in
Class
(CSU
Fund)
Amount
90
501
$xxx
90
501
($xxx)
Accounting records derived from legal for recognizing the CWIP additions to CSU Fund 501.
* Use FIRMS Object Code 110008 Construction Work in Progress.
4.01.5-4
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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Manual GAAP Entry – in the fund financing the purchase
Account
724004
722004
Journal
Description
Class
(CSU
Fund)
Fund
(Net Position)
Account Name
Program
Amount
Transfers to/from other
881-Unrestricted
13
221
$xxx
CSU campuses, net
Supplies and other
881-Unrestricted
07
221
($xxx)
services
Entry to reverse the supplies and other services that are related to construction work in
progress.
Manual GAAP Entry – in CSU fund 501
Account
713811
724004
Journal
Description
Class
Fund
(CSU
Account Name
(Net Position)
Program
Fund)
Amount
Net investment in capital 811-Net investment in
90
501
$xxx
assets
capital assets
Transfers to/from other
811-Net Investment in
13
501
($xxx)
CSU campuses, net
Capital Assets
Entry to reverse the net investment in capital assets related to construction work in
progress.
4.3 COMPLETED CAPITAL ASSET PROJECTS
When capital assets are completed, CWIP outstanding balance in the legal memo journal
entry needs to be zeroed out as it will duplicate the capital asset addition automatically
entered by Asset Management.
Derived GAAP Entry –in CSU fund 501
Account
713811
711207*
Journal
Description
Account Name
Net investment in capital
assets
Capital assets, net
Fund
(Net Position)
811-Net investment
capital assets
811-Net investment
capital assets
Program
in
in
Class
(CSU
Fund)
Amount
90
501
$xxx
90
501
($xxx)
Accounting records derived from legal to zero out CWIP balance in CSU Fund 501.
* Use FIRMS Object Code 110008 Construction Work in Progress.
When the information about the completed capital asset are transferred to the Asset
Management module, it creates automated entries as if such capital assets are purchased.
Please refer to the section 4.2 Current Year Additions section for the derived AM entries.
In order to reverse the entry made by AM crediting supplies and services because
portions of the expenses capitalized in CWIP have occurred over a series of fiscal years,
manual GAAP adjusting entries need to be performed.
4.01.5-5
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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Manual GAAP Entry – in the fund financing the purchase
Account
722004
724004
Journal
Description
Class
(CSU
Fund)
Fund
(Net Position)
Account Name
Program
Amount
Supplies and other
881-Unrestricted
07
221
$xxx
services
Transfers to/from other
811-Net Investment in
13
221
($xxx)
CSU campuses, net
Capital Assets
Entry to reverse the supplies and other services entry made by AM in relation to the
completed CWIP.
Manual GAAP Entry – in the CSU Fund 501
Account
724004
713811
Journal
Description
Account Name
Transfers to/from other
CSU campuses, net
Net investment in capital
assets
Fund
(Net Position)
811-Net Investment in
Capital Assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
13
501
$xxx
90
501
($xxx)
Amount
Entry to reverse the net investment in capital asset entry made in legal to zero out CWIP.
4.4 CAPITAL ASSET DISPOSAL
For capital assets disposed of during the current fiscal year, the cost of the capital asset
and accumulated depreciation/amortization must be removed from the ledger.
Derived Asset Management automated Legal Memo Journal Entry in CSU Fund 501
Account
713811
711207*
Account Name
Net investment in capital
assets
Capital assets, net
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
90
501
$xxx
90
501
($xxx)
Amount
*Should equal the net book value of the capital asset which includes both equipment and accumulated depreciation.
Asset Management Automated GAAP Entry
Account
723006
713811
4.01.5-6
Account Name
Other nonoperating revenues
(expenses)
Net investment in capital
assets
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
50
501
$xxx
90
501
($xxx)
Amount
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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In certain cases where cash proceeds were received as part of the capital asset disposal,
a legal entry is derived that will offset the AM entry recognizing the other nonoperating
revenues (expenses) account:
Derived GAAP Entry –in the source fund that received the proceeds
Account
711102
723006
Journal
Description
Class
Fund
(CSU
Account Name
(Net Position)
Program
Fund)
Amount
Short-term investment
881-Unrestricted
90
532
$xxx
Other nonoperating
811-Net investment in
50
532
($xxx)
revenues (expenses)
capital assets
Accounting records derived from legal for recording the payment received from disposal
of capital asset.
4.5 DEPRECIATION /AMORTIZATION OF CAPITAL ASSETS AND INTANGIBLES
Campuses are also required to report in its GAAP financial statements the
depreciation/amortization expense and the corresponding accumulated depreciation/
amortization related to its capital assets.
To meet different reporting requirements, no depreciation expense is recorded in the legal
books. Instead, the net investment in capital assets is directly reduced in the memo fund
through AM CSU Fund 501 Accounting Entries process. The Asset Management module
for depreciation calculation must be run to calculate the depreciation/amortization for a
certain period
the necessary journal entries related to depreciation/amortization. This process can be
run more than once during an accounting period.
Derived Asset Management automated Legal Memo Journal Entry in CSU Fund 501
Account
713811
711207
Account Name
Net investment in capital
assets
Capital assets, net
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
90
501
$xxx
90
501
($xxx)
Amount
Asset Management Automated GAAP Entry
Account
4.01.5-7
Account Name
722005
Depreciation
713811
Net investment in capital
assets
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
12
501
$xxx
90
501
($xxx)
Amount
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
.
LIBRARY MATERIALS
For purposes of legal basis accounting as well as GAAP financial reporting, the cost and
accumulated depreciation of library materials are to be recorded and reported. However, these
amounts normally are captured in total by fiscal year; so a “perpetual inventory” of library
materials costs and depreciation would show one net entry for each fiscal year rather than one
entry for each individual library book.
4.6 ADDITIONS TO LIBRARY MAtERIALS
Additions to the capitalized costs of library materials can be obtained from a campus’
legal basis accounting records (object code 608001). Campuses must record annual
additions to library materials costs prior to the close of their legal basis records. Legal
and GAAP accounting entries related to library materials will be the same as that of in a
regular capital asset addition as per the topic noted above. If the campus typically does
not receive donations, there may be nothing to record. Inquiries with the library staff
should also be made of significant donations during the fiscal year to review the accuracy
of library inventory. If timely information cannot be obtained, reasonable estimates can
be substituted as long as the basis for them is fully documented. Donations are normally
supported by letters between the donor and the gift recipient; libraries receiving any
major donation should be able to readily produce this correspondence. If donations have
been relatively minor in the past and can be demonstrated, the low value items of these
prior donations should be noted in the non-GAAP policy document with the estimated
amount as of the year then ended.
The following is a snapshot of the library material section of the report and what can be
capitalized:
A
55
58
61
62
10
11
12
13
63
65
66
14
15
16
B
Books, serial backfiles, other materials
Current serials- print (sum of 11a, 11b)
Current serials- microform
Audiovisual materials
Computer files and search services-incl
current e-serials
Document delivery/interlibrary loan
Other
I
4.01.5-8
17
Preservation/binding
K
Yes
Capital Asset
No
No
No
Expense
Expense
Expense
GASB Q&A 7.9.2 and
7.9.8
NACUBO 307.36
NACUBO 307.36
NACUBO 342.143
No
Expense
NACUBO 307.36
No
No
No
68
J
Expense. Capitalized only if the
GASB Q&A 7.9.2 and
books are considered as rare
par. 27 GASB 34
books or collections like arts.
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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4.7 DEPRECIATION OF LIBRARY MATERIALS
Campuses are expected to record annual depreciation of library materials as if each year’s
total acquisition of library materials represents the acquisition of one capital asset. Rules
for computing depreciation are included in Chapter 13, Capital Assets Guide.
Depreciation of library materials are also done in the Asset Management module similar
to the other types of capital assets. Please refer to the entries in the section depreciation
of capital assets for the entries in depreciating library materials.
4.8 DISPOSITION OF LIBRARY MATERIALS
The number of volumes of capitalized library materials that are removed from the
collection each year should be based off of campus library records. If timely information
cannot be obtained, reasonable estimates can be substituted as long as the basis for them
is fully documented. The dispositions are to be recorded as manual GAAP adjustments
for the current fiscal year, and as legal basis adjustments in the following fiscal year when
actual amounts are already determinable.
Dispositions are presumed to occur on a FIFO (First In, First Out) basis calculated based
on the annual adjusted average cost. That is, the costs to be removed from the campus’
accounting records are presumed to relate to the oldest remaining library materials
acquired. Therefore, it is likely that these materials will be fully depreciated, and there
will be no gain or loss on their disposal.
Supposing timely information cannot be obtained, the entries to be made for current year
dispositions of library materials would be as follows:
Manual GAAP Entry – in CSU Fund 501
Account
723006
711207
Journal
Description
4.01.5-9
Account Name
Other nonoperating
revenues (expenses)
Capital assets, net
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
50
501
$xxx
90
501
($xxx)
Amount
Entry to record the estimated disposal of library materials.
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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The following fiscal year, the GAAP entries made recording the dispositions of library
materials should be reversed as they are considered timing adjustments. Entry is as
follows:
Manual GAAP Entry – in CSU Fund 501
Account
Account Name
711207
Capital assets, net
723006
Other nonoperating
revenues (expenses)
Journal
Description
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
90
501
$xxx
50
501
($xxx)
Amount
Entry to reverse the recording of the estimated disposal of library materials.
Entries for both legal and GAAP basis accounting will be the same as that of a regular
disposal of a capital asset on the fiscal year that actual amounts of the disposition of
library materials have been made certain.
4.9 CONSTRUCTION WORK IN PROGRESS (NON-DELEGATED PROJECTS)
Non-delegated projects are capital projects managed centrally by the CO on behalf of
another campus. The construction projects managed, may be financed by specific debt
issued for construction, by capital outlay funds appropriated to the CSU from the State,
by campus contributions, by donations, or by other debt that is not allocated to the
campus. The funds for these non-delegated projects remain at the CO to pay for the nondelegated project expenses. However, since the physical construction takes place at the
campus, the costs incurred each year must be allocated to the campus in order to be
properly recorded in its accounting records.
Current year CWIP expenses are allocated to the campuses via ADNOAT before the end
of the fiscal year close to enable campuses to record them into their legal-basis
accounting records. The legal and GAAP entries related to the CWIP are provided via
the ADNOAT to the campus. The cumulative CWIP balance as of June 30, 20PY should
already be in the campuses’ legal basis accounting records as a carryforward.
Derived GAAP Entry (via ADNOAT)
Account
711207*
713811
Account Name
Capital assets, net
Net investment in capital
assets
Fund
(Net Position)
811-Net investment
capital assets
811-Net investment
capital assets
in
in
Program
Class
(CSU
Fund)
90
501
$xxx
90
501
($xxx)
Amount
Journal
Entry to record additions to CWIP for the current year.
Description
* Use FIRMS Object Code 110008 Construction Work in Progress.
4.01.5-10
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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Manual GAAP Entries (via ADNOAT)
Account
713811
724004
Journal
Description
Account
724004
723006
Journal
Description
Account Name
Net investment in capital
assets
Transfers to/from other
funds
Fund
(Net Position)
811-Net investment in
capital assets
811-Net investment in
capital assets
Program
Class
(CSU
Fund)
90
501
$xxx
13
501
($xxx)
Amount
Entry to reverse the net investment in capital assets.
Class
Fund
(CSU
Account Name
(Net Position)
Program
Fund)
Amount
Transfers to/from other
811-Net investment in
13
532
$xxx
funds
capital assets
Other nonoperating
811-Net investment in
15
532
($xxx)
revenues/expenses
capital assets
Entry to reclassify the transaction to other nonoperating revenues/expenses for systemwide
elimination.
4.10 COMPLETED CONSTRUCTION PROJECTS (NON-DELEGATED )
After a non-delegated construction project is completed, the CO provides the campus
with the final cost of the completed project via an ADNOAT called “Statement of
Capitalization / Statement of Fixed Asset Additions” prior to fiscal year-end close. Upon
receipt of the ADNOAT, the campus will reclassify the asset from CWIP to the proper
capital assets category in its legal basis accounting records through the Asset
Management module. Please refer to the section 4.3 Completed Capital Asset Projects
for the sample journal entries.
4.11 CAPITALIZED INTEREST
Interest costs (including amounts resulting from periodic amortization of discount or
premium and issue costs on debt) shall be capitalized as part of the historical cost of
acquiring certain assets. To qualify for interest capitalization, assets must require a period
of time to get them ready for their intended use.
The campus needs to determine if the capitalization of interest is required for projects
that are included in its CWIP accounts. Usually, the projects within its CWIP accounts
can be broken out into 4 key categories:
a. Projects acquired using gifts, grants or State of California capital appropriations
b. Projects that are self-funded by the campus
c. Projects funded with taxable debt
d. Projects funded with tax-exempt debt
4.01.5-11
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
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Recognition for Capitalized Interest in Key Categories
a. Projects acquired using gifts, grants or State of California capital appropriations
No interest cost should be capitalized as the projects were acquired using gifts or
grants that are restricted by the donor or grantor to acquire those assets to the extent
that funds are available from such gifts or grants. Similar to the gifts or grants, the
State of California capital appropriations should not have a capitalized interest to the
extent that funds are available from the appropriation.
b. Projects that are self-funded by the campus
The amount of interest cost to be capitalized by the campus shall be the portion of
the interest cost incurred during the period that could have been avoided if the assets
had not been constructed. The total amount of interest capitalized during the fiscal
year should not exceed the actual interest cost incurred by the campus for the fiscal
year. No interest capitalization is required if immaterial.
c. Projects funded with taxable debt (e.g. Build America Bonds)
Similar to projects self-funded by the campus, the amount of interest to be capitalized
is intended to be the portion of the interest cost incurred during the assets’ acquisition
periods that theoretically could have been avoided if outlays for the assets had not
been made. The capitalized interest amount for the year should not exceed the actual
interest cost incurred during the fiscal year.
d. Projects funded with tax-exempt debt (e.g. regular SRB bonds)
The amount of interest cost capitalized on qualifying assets acquired with proceeds
of tax-exempt borrowings that are externally restricted should be all interest cost of
the borrowing less any interest earned on related interest-bearing investments
acquired with proceeds of the related tax-exempt borrowings from the date of the
borrowing until the assets are ready for their intended use. Interest cost of a taxexempt borrowing should be eligible for capitalization on other qualifying assets of
the entity when the specified qualifying assets are no longer eligible for interest
capitalization.
This is the category that most likely would result in interest capitalization at a
campus. As noted above, the amount to capitalize shall be all interest cost of those
borrowings less any interest earned on temporary investment of the proceeds of those
borrowings from the date of borrowing until the specified qualifying assets acquired
with those borrowings are ready for their intended use.
The CO passes down to the campus information regarding interest costs and interest
earnings on the tax-exempt debt that it manages. The amount of interest costs and
interest earnings that are related to this category of CWIP and the amount of interest
4.01.5-12
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
.
costs and interest earnings that are related to assets which have been placed in service
are provided in separate lines (by project) in the passdown entries. (Refer to Chapter
4 Long-term Debt Obligations for further discussion of the passdown entries.)
For the portion of interest costs and interest earnings that are related to assets which
have been placed in service, the pass down entries should be recorded by the campus
as presented in the pass down entries. For the portion of interest cost and interest
earnings that are related to CWIP, the campus needs to capitalize such amounts, (i.e.
to record the net amount as an addition to CWIP.)
5
REFERENCE TOOLS
5.1 TABLES OF OBJECT CODE AND CSU FUND DEFINITIONS
http://www.calstate.edu/SFSR/standards_and_rules/2014/Tables-of-Object-Code-andCSU-Fund-Definitions-Updated-10-30-14.xls
5.2 ACCOUNTING DEPARTMENT NOTICE OF ACCOUNTING TRANSACTION (AD NOAT)
CODED MEMOS
https://csyou.calstate.edu/Divisions-Orgs/bus-fin/Financial-Services/accounting/CodedMemos/codedmemosaccounting/Forms/adnoat.aspx
5.3 PRESENTATION SLIDES
 Capitalization of Interest Cost (August 2008)
(Note: The presentation slides have been prepared prior to GASB Statement No. 62
Codification of Accounting and Financial Reporting Guidance Contained in PreNovember 30, 1989 FASB and AICPA Pronouncements and thus references to the
presentation were for FASB Statement No. 34 Capitalization of Interest Cost,
however, there should be no differences between the FASB and GASB treatment of
capitalized interest.)
Capitalized_Interest_8
_25_08_Rev.ppt
4.01.5-13
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015
.
REVISION CONTROL
Document Title:
CHAPTER 4.1.5 – GAAP ADJUSTMENTS AND RECLASSIFICATION ENTRIES
– ASSETS: CAPITAL ASSETS, DEPRECIATION AND AMORTIZATION
REVISION AND APPROVAL HISTORY
Section(s)
Revised
4.9, 4.10 &
4.11
4.01.5-14
Summary of Revisions
Previously in Chapter 5
Revision
Date
May 2015
GAAP Manual | GAAP Adjustments and Reclassification Entries – Assets: Capital Assets,
Depreciation and Amortization | June 30, 2015