Original Author: Darden, Don
Date of Material: 07/08/2004
Subjects(s):
Accounting--Fixed asset
Accounting
Accounting--Tennessee
Implementing GASB 34
Reviewed Date: 04/23/2021
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MTAS was asked for help in estimating the life expectancy of buildings and equipment.
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
MTAS Municipal Management Consultant