Knowledgebase-Implementing GASB 34

Information Product

Title:Implementing GASB 34
Summary:MTAS was asked for help in estimating the life expectancy of buildings and equipment.
Original Author:Darden, Don
Product Create Date:07/08/2004
Last Reviewed on::12/05/2016
Subject:Accounting--Fixed asset; Accounting; Accounting--Tennessee
Original Document: Implementing GASB 34.pdf

Reference Documents:

Text of Document: Implementing GASB 34.doc

I had provided the city with details about how to implement GASB 34. The Recorder needed help in estimating life expectancy of buildings and equipment. MTAS recommended:

1. Building--40 years
2. Backhoes--12 years
3. Fire Truck--20 years
4. Tractor--12 years
5. Police Cars --(3 to 8 years)
6. Rescue Equipment --10 years

Don J. Darden
Municipal Management Consultant
1-615-532-2588 (or mobile--615-476-6943)