Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Capital Assets
Amortization
Recording Amortization of Capital Assets
Run the SPA CAAB 201S report to determine the amount of amortization earned during the fiscal year. This report presents the following information for all capital assets by AFR category and amortization indicator.
- Beginning and ending accumulated amortization balances
- Additions
- Deletions
- Adjustments (restatements)
- Transfer in
- Transfer out
- Construction in Progress (CIP)
This report excludes suspense, surplus and inventoried property as well as property recorded with the acquisition method assets held in trust. Amounts are signed as on Note 2 with Debits (+) and Credits (-). Therefore, a negative in the additions column is an increase in accumulated amortization.
The additions column of this report must match the new amortization for each capital asset category that was added to an agency’s property ledger and needs to be recorded in USAS.
Business-Type Activities (Fund Type 05) and
Component Units (Fund Type 15)
Valid general ledger accounts:
- 0394 Accum Amort/Land Use Rights — Term
- 0396 Accum Amort/Computer Software Intangible
- 0397 Accum Amort/Other Intangible Cap Assets
Valid COBJs:
- 7877 Amortization Expense – Land Use Rights — Term
- 7878 Amortization Expense – Computer Software
- 7879 Amortization Expense – Intangible Cap Assets — Other
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record the Amortization of Capital Assets | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 632 | CY | 99999 | 787X | $ XX.XX | XXXX | 039X | |
Accounting effect of above entry:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record the Amortization of Capital Assets | ||
| 5600 GAAP Expenditure Offset | $ XX.XX | ||
| 039X General Ledger Account for Asset Amortization | $ XX.XX |
Governmental Activities — Basis Conversion (Fund Type 11)
Valid general ledger accounts:
- 0694 BC Accum Amort/Land Use Rights — Term
- 0696 BC Accum Amort/Computer Software Intangible
- 0697 BC Accum Amort/Other Intangible Cap Assets
Valid COBJs:
- 7877 Amortization Expense – Land Use Rights — Term
- 7878 Amortization Expense – Computer Software
- 7879 Amortization Expense – Intangible Cap Assets — Other
| Seq No | Batch Type | Doc Type | Eff Date | Fin Agy | TC | AY | PCA | COBJ | Amount | R | Fund | Input GL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| To Record the Amortization of Capital Assets | ||||||||||||
| (1) | 5 | U | 0832CY | XXX | 512 | CY | 99999 | 787X | $ XX.XX | XXXX | 069X | |
Accounting effect of above entry:
| Debit | Credit | ||
|---|---|---|---|
| (1) | To Record the Amortization of Capital Assets | ||
| 5650 BC Expenditure Control | $ XX.XX | ||
| 069X General Ledger Account for Asset Amortization | $ XX.XX |