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Implementing GASB 34

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Reviewed Date: October 18, 2018

Original Author: 
Darden, Don
Date of Material: 
Jul 8, 2004


Subjects:
Accounting--Fixed asset
Accounting
Accounting--Tennessee

Implementing GASB 34

Summary: 
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
 

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